This Sustainability Report 2024 outlines our sustainability performance during the reporting year. We encourage our stakeholders to read this report together with the Group’s Annual Report and Accounts 2024.
Our approach to reporting
We transparently report on our material sustainability matters, guided by the Global Reporting Initiative (GRI) Standards, the International Finance Corporation (IFC), the Equator Principles, the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and applicable standards of the International Organization for Standardization (ISO). Gem Diamonds is a constituent of the FTSE4Good Index Series.
Working towards Global Goals
To ensure that we create sustainable value for our stakeholders, we have embedded material UN SDGs into the Group’s strategy, systems and processes. Our second three-year UN SDG cycle commenced in 2024 and includes eight adopted UN SDGs to generate added sustainable value for stakeholders over the 2024 – 2026 period.
No poverty
Zero hunger
Good health and well-being
Clean water and sanitation
Decent work and economic growth
Reduced inequalities
Responsible consumption and production
Climate action
UN SDG second cycle
Year one: 2024
Perform a gap analysis to evaluate alignment with each UN SDG
Year two: 2025
Focus on addressing shortfalls identified in the first year and further strengthening achievements
Year three: 2026
Evaluate the success of our measures to ensure their sustainable application
The interconnectedness of value creation
Across the business, we focus on practical and implementable measures to deliver maximum value for stakeholders. Three key priorities support our strategy in delivering this value:
Three key priorities support our strategy in delivering this value:
Extracting maximum value from our operations
Business integrity
Organisational health and safety
Advancing our people
Working responsibly and maintaining our social licence
Business integrity
Environmental stewardship
Organisational health and safety
Enhancing community benefits
Preparing for our future
Business integrity
Environmental stewardship
Organisational health and safety
Advancing our people
Resource efficiency
Enhancing community benefits
Our sustainability pillars
ENVIRONMENTAL
SOCIAL
EMPLOYEES
GOVERNANCE AND ETHICS
ENVIRONMENTAL
Environmental
We are committed to responsible environmental stewardship, proactively assessing, mitigating and managing our impact to leave a meaningful legacy for future generations.
Related sustainability principles
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Improving resource use efficiencies
Prioritising environmental protection
Optimising socio-economic benefit
Related UN SDGs
The following UN SDGs relate to our environmental pillar:
Refer to our Annual Report and Accounts 2024 for more information on how environmental considerations and associated UN SDGs are integrated into our business operations.
Snapshot of our performance
Zero major or significant environmental incidents for the 16th and 11th consecutive year, respectively
27% reduction in Scope 1 and 2 carbon emissions against our 30% decarbonisation target
US$2.1 million invested in environmental protection in 2024 (2023: US$2.3 million)
US$11.0 million environmental rehabilitation provision (2023: US$14.2 million)
No fines for environmental transgressions or non-compliance with host country legislation for the 15th consecutive year
Total carbon footprint reduced 32% to 104 762 tCO2e (2023: 110 198 tCO2e)
SOCIAL
Social
Maintaining our social licence to operate is central to the Group’s purpose: Produce the best diamonds, in the best way, leaving a lasting legacy.
As responsible operators and partners in our host countries, we strive to foster positive and constructive relationships with governments, employees and local communities. Our social licence is reinforced through ongoing dialogue with key stakeholders, including governments, communities, employees and other interested parties, ensuring that we address challenges with mutually beneficial and sustainable solutions.
Related sustainability principles
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Prioritising environmental protection
Optimising socio-economic benefit
Prioritising the development and well-being of our employees
Related UN SDGs
Gem Diamonds’ corporate social responsibility investment (CSRI) strategy is informed by a needs analysis to identify socio-economic challenges. This is a collaborative process with PACs at our Lesotho operating mine, guided by the eight UN SDGs we have adopted.
The following SDGs relate to our social pillar:
Refer to our Annual Report and Accounts 2024 for more information on our approach to integrating these UN SDGs into our business operations.
Snapshot of our performance
US$0.3 million invested in social projects (2023: US$0.4 million)
US$38.8 million spent on local procurement (2023: US$65.7 million)
Zero major or significant community incidents (2023: zero)
Letšeng has awarded 55 scholarships to young Basotho citizens to date
Zero incidents of compromised dam integrity (2023: zero)
Zero violations of indigenous communities’ rights (2023: zero)
EMPLOYEES
Employees
In our pursuit of zero harm, we prioritise a mature safety culture, the physical and psychological well-being of our employees, and promote equality, diversity and professional development at every level. We are committed to fostering a workplace where employees feel supported, empowered and able to thrive.
Related sustainability principles
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Creating a safe and healthy working environment
Prioritising the development and well-being of our employees
Optimising socio-economic benefit
Related UN SDGs
The following UN SDGs relate to our employees pillar:
Refer to our Annual Report and Accounts 2024 for further details on employee engagement, remuneration matters and integration of UN SDGs into business operations.
Snapshot of our performance
Zero fatalities (2023: zero)
Letšeng retained ISO 45001 certification (Occupational Health and Safety Management)
Lost time injury frequency rate (LTIFR): 0.18 (2023: 0.1)
US$32.9 million spent on employee remuneration and benefits (2023: US$33.6 million)
GOVERNANCE AND ETHICS
Governance and ethics
The value of our exceptional diamonds is influenced by how we operate. Our commitment to human rights and ethical practices, and our zero tolerance to bribery and corruption is demonstrated through strong governance. Our dedication to the highest ethical, governance and legal standards is reinforced by the robust foundation of our governance structures, policies and procedures.
Related sustainability principles
Select an icon to view principles
Creating a safe and healthy work environment
Prioritising the development and well-being of our employees
Optimising socio-economic benefit
Prioritising environmental protection
Related UN SDGs
The following UN SDGs relate to our governance and ethics pillar:
Refer to our Annual Report and Accounts 2024 for more information on our approach to integrating these UN SDGs into our business operations.
Snapshot of our performance
Every recovered rough diamond is certified through the Kimberley Process
Zero cases of bribery, corruption or anti-competitive behaviour to date (2023: zero)
Zero breaches of confidentiality or customer privacy (2023: zero)
Seven whistleblowing reports (2023: 11)
Sustainability case studies
We recognise that the single-minded pursuit of economic growth is not a sustainable approach to business. We believe that long-term profitability should go hand-in-hand with upholding and promoting the rights and welfare of our people and communities, as well as safeguarding our natural resources.
Being an employer of choice
Year
Case studies
Online
2022
LetšGem
2021
Maturing our organisational safety culture
2020
UN SDGs help us maintain our social licence to operate
2020
Our people-first policy ensures safety is at the forefront of our thinking
2020
Leading with purpose
2019
Ensuring safety is at the forefront of our thinking
2019
Leading with purpose
2019
Mothobi Erasmus – Making his mark through innovative thinking
2018
Making progress on our organisational health objectives
2017
Tsoelopele organisational health campaign
2017
Proactive HSE update
2017
Typhoid update
2016
Real is rare: investing in the Premium brand of diamonds
2016
Going the extra mile in extending our culture of care
2016
A passion for learning
2015
Creating a pervasive culture of care at Letšeng and Ghaghoo
2015
Being proactive about dam safety
2014
Behaviour-based safety programme
2014
Proactive safety management
2014
Monitoring pit safety at Letšeng
2014
Bringing healthcare to remote areas
2014
Investing in education
Optimising positive social outcomes
Year
Case studies
Online
2024
Our Corporate Social Investment in Lesotho
2023
Our Corporate Social Investment in Lesotho
2022
Our Corporate Social Investment in Lesotho
2022
Tailings Storage Facility and Dam Management
2021
Taking a holistic approach to community engagement and impact
2020
Mutually beneficial partnerships to maintain our social licence to operate
2020
Protecting our communities from COVID-19
2020
Making a sustainable impact in our communities
2020
Procurement
2019
Making a sustainable impact in our communities
2018
Infrastructure development in the Pae-La-ltlhatsoa Community
2018
Encouraging sustainable economic development through our dairy project
2018
Creating shared value through sustainable business development
2018
Investing in the people of Lesotho through education
2018
Ensuring the safety and integrity of our dams
2017
Queen Anne partnership – making the link between the UK and Botswana
2017
Letšeng dairy project
2017
Butha-Buthe update
2017
South African office social initiatives
2016
Celebrating a rich history of progress
2016
Creating sustainable value for our communities
2015
Ghaghoo – Starting the journey to a sustainable future
2015
Letšeng – Addressing our community needs
2014
Meeting community needs through co-operation
2014
Supplying water to communities
2014
Equipping our communities
2014
Extending medical care to the community
2014
Celebrating our partnership
Ensuring long-term environmental well-being
Year
Case studies
Online
2024
Bearded vulture conservcation support
2023
Mammals of Letšeng
2022
Putting a price on carbon
2022
Partnering to preserve biodiversity
2022
Water stewardship
2021
Unpacking our climate change scenario analysis
2021
Unlocking value through collaboration
2021
Managing our impacts through bioremediation
2020
Demonstrating responsible stewardship
2020
Planning for mine closure
2020
Protecting natural habitats
2020
Building climate change resilience
2019
Building climate change resilience
2019
Protecting natural habitats
2019
Demonstrating responsible stewardship
2018
Protecting vultures as part of our biodiversity plan
2018
Business Transformation
2018
Upscaling our effort to minimise nitrate contamination
2017
Waste management update – striving for creative ways to reduce our impact
2017
Nitrates update – managing our impacts through bioremediation
2017
Water and carbon footprints
2016
Ensuring the highest standards of tailings management
2016
Finding effective, environmentally friendly ways to conserve our Water sources
2016
Planning ahead to mitigate our long-term environmental impacts
2015
Nurturing nature’s functional beauty: Letšeng’s wetland and sponge projects
2015
Investing for the future: Managing nitrates at Letšeng
