Sourcing

De Beers Sinks $2M Into Startup That Grows Kelp Forests

SourcingApr 26, 2022

De Beers Sinks $2M Into Startup That Grows Kelp Forests

It’s an environmental investment that De Beers hopes will help it reach its goal of being carbon neutral by 2030.

De Beers is investing in environmental startup Kelp Blue, which wants to grow and maintain forests of giant kelp off the coast of Namibia to capture carbon and help sustain the marine ecosystem. (Photo credit: Kelp Blue)
London—On Earth Day, De Beers Group announced it was investing $2 million in a company looking to grow giant kelp off the coast of one of the African countries where it operates. 
 
Kelp Blue is a startup with offices in Amsterdam and Namibia that is focused on growing and maintaining large-scale forests of giant kelp. 
 
The largest of all algae, giant kelp can grow to be 150 feet long. Underwater forests of them can lock away vast amount of CO2 in the ocean while also helping to sustain healthy marine ecosystems by providing food and shelter for countless species. 
 
Kelp Blue was awarded a license to cultivate giant kelp off the coast of Namibia in 2021 and its program is currently in its pilot phase. 
 
The business will contribute to infrastructure development and create employment and upskilling opportunities in kelp cultivation and processing in and around Lüdertiz, a coastal town in southwestern Namibia, De Beers said. 
 
During the pilot phase, Kelp Blue is expected to generate direct and indirect jobs in biotechnology, engineering, processing, support services and logistics.
 
 Related stories will be right here … 
 
De Beers’ investment in Kelp Blue is line with its sustainability goals under its “Building Forever” initiative, as it supports a nature-based solution for capturing carbon and enhancing biodiversity. It also addresses another priority under Building Forever—bringing sustainable development to the countries where it mines.
 
In addition, the investment could help De Beers reach its goal of becoming carbon neutral by 2030 by giving it access to potential carbon credits generated by Kelp Blue.
 
Carbon credits are purchased by companies to make up for greenhouse gas emissions, either on the open market or via investments in projects that involve the reduction, destruction or capture of CO2 emissions. 
 
De Beers said its “primary focus” in becoming carbon neutral will be on increasing efficiency and replacing fossil fuel and fossil-based energy in its operations with “renewable alternatives.” 
 
But that won’t be enough to become carbon neutral, so it will have to rely on carbon credits to make up the difference and would like to do so via investment in projects like Kelp Blue. 
 
Executive Vice President of Strategy and Innovation Neil Ventura explained: “Instead of simply purchasing carbon credits on the market, we are looking to identify potential long-term, sustainable and innovative nature-based solutions for this, particularly those that can deliver additional carbon capture benefit beyond our business. 
 
“While there is still work to be done to understand more about the scale of opportunity, Kelp Blue is an innovative startup with significant potential.” 
Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Recorded WebinarsMay 27, 2022
Watch: The 5 Things I Always Take to a Trade Show

Editor-in-Chief Michelle Graff is joined by three industry veterans to talk about the items they never leave behind and why.

CollectionsMay 27, 2022
92Y Has Selected its 2022 Artist in Residence

German jewelry artist Alexander Blank is the fourth designer to receive the honor.

CollectionsMay 27, 2022
Piece of the Week: Which Movie Inspired This Chopard Masterpiece?

The answer is “Hair,” and the necklace is from Chopard’s 2022 Red Carpet Collection, rolled out at the Cannes Film Festival.

Brought to you by
3 Reasons to Offer Estate Buying at Your Store

Provide your customers with a seamless selling solution by partnering with Windsor Jewelers, Inc.

Supplier BulletinMay 26, 2022
Extraordinary Italian Jewelry at JCK and COUTURE

Sponsored by Italian Trade Agency

Weekly QuizMay 26, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
AuctionsMay 26, 2022
Bonhams New York Jewels Auction Is a White Glove Sale

Jewelry and objects belonging to Bette Midler, heiress Hélène Irwin Crocker Fagan, and Lady Sylvia Ashley were among the highlights.

FinancialsMay 26, 2022
Movado Posts Record Q1 Sales Despite ‘Challenging’ US Market

The company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.

Brought to you by
Dive into GIA’s Pearl Expertise

When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.

TechnologyMay 26, 2022
State of Retail: The Pros and Cons of 4 Jewelry-Selling Platforms

From “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.

Policies & IssuesMay 26, 2022
Barbara Wheat Named Executive Director of Ethical Metalsmiths

She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.

EditorsMay 25, 2022
7 Standout Tiaras in Sotheby’s Platinum Jubilee Exhibition

Senior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.

MajorsMay 25, 2022
Anne Hathaway Is Bulgari’s Newest Ambassador

The actress joins Zendaya and others in a new advertising campaign.

IndependentsMay 25, 2022
The Mexican Shack to Close After 47 Years

Owner Steve Delzio shares his thoughts on retirement after nearly five decades in the jewelry industry.

IndependentsMay 25, 2022
Designer Theo Fennell Has Written a Memoir

“I Fear for This Boy” takes readers through the ups and downs of his business and is available for pre-order now.

IndependentsMay 25, 2022
MVEye, Wedding Report Partner on New Jewelry Research Platform

“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.

ColumnistsMay 24, 2022
The PR Adviser: 10 Questions to Contemplate

Columnist Lilian Raji wants to walk you through the customer journey. But first, she’d like you to answer a few questions.

Events & AwardsMay 24, 2022
8 Gold Jewelry Designers Unveil New Platinum Designs

Several Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.

Lab-GrownMay 24, 2022
Kendra Scott Unveils Lab-Grown Engagement Ring Collection

The jewelry company is moving into bridal just a month after branching out into the watch world.

Events & AwardsMay 24, 2022
WJA to Host Diversity Keynote at New Las Vegas Breakfast Event

The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.

WatchesMay 23, 2022
Steven Kaiser, Watch Industry Veteran and Beloved Mentor, Dies at 68

Kaiser, whose illustrious career spanned decades, died suddenly on Friday.

IndependentsMay 23, 2022
Long’s Jewelers to Open New Location

The family-owned jeweler is relocating its Braintree, Massachusetts, store to a new space.

IndependentsMay 23, 2022
Luxury Goods Veteran Olivier Stip Joins Chicago Jeweler CD Peacock

He will step into the retailer’s newly created role of chief development officer.

GradingMay 23, 2022
Gem-A Launches Digital Entry-Level Gemology Course

GemIntro is meant to give a broad introduction to gems and gemology.

Recorded WebinarsMay 20, 2022
Watch: Responsible Sourcing and the Gold Supply Chain

Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.

FinancialsMay 20, 2022
Richemont’s 2022 Jewelry Sales in the Americas Nearly Double

Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.

AuctionsMay 20, 2022
Piece of the Week: ‘Birds in Flight’ by Oscar Heyman

The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.

SurveysMay 19, 2022
5 Predictions for Jewelry Retail in the Second Half of 2022

From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy