Focus on Sustainability in Thai Jewellery Industry

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by KnowESG
KnowESG_Focus on Sustainability in Thai Jewellery Industry
Gold Stock photos by Vecteezy

The Gem and Jewellery Institute of Thailand (GIT) has encouraged Thai jewellery makers to focus more on making their production methods sustainable.

This advice comes as customers are increasingly interested in how jewellery is made, wanting it to be ethical and environmentally friendly.

GIT, part of the Commerce Ministry, says that while jewellery is mostly about design and making raw gems beautiful, it is important not to forget about sustainability.

The director of GIT, Sumeth Prasongphongchai, warns that not keeping up with sustainability could be risky for businesses. He suggests following the Responsible Jewellery Council (RJC) standards, which cover everything from where gems come from to how they are sold.

This means Thai jewellery companies need to be more responsible in their operations and care more about ethics and the environment. Sumeth says Thai businesses should try harder to be sustainable and points out that only a few have met the RJC standards.

Deputy Commerce Minister Napintorn Srisunpang agrees, saying the government supports sustainable business practices. He thinks companies should be honest about where they get their materials and how they make their jewellery, and he suggests making jewellery that anyone can wear.

Napintorn thinks the boho-chic style might be popular in 2024, with its focus on being creative, flexible, and colourful. He also says people are currently liking silver, pearls, and jewellery made from natural materials.

GIT's director believes jewellery exports will stay about the same as last year, with gold and gemstones being the biggest sellers. From January to November last year, Thai jewellery sold for US$8.25 billion, almost 10% more than in 2022. Hong Kong bought the most, followed by the US and India.

For more regulatory news

Source: Thaiger


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