On Earth Day, Everledger reveals a new blockchain solution that will enable its partners in the diamond industry to provide consumers with ever more transparent evidence around sustainability.

LONDON, UK - Media OutReach - 28 April
2020 - For the first time, emissions data from the diamond industry will be
used to offset carbon footprint via blockchain technology. Everledger has launched a climate holistic
platform that will help India and US-based Shairu & Atit Diamonds to meet
their consumers' demand for environmental footprint information about every
single diamond.

Besides the awareness about the carbon footprint
generated by their supply chain, stakeholders in the value chain such as mining
companies, diamond manufacturers, brands or retailers can now select whether
they want to offset the diamond footprint directly on the Everledger platform
user interface. This feature will soon be available for every stakeholder using
the Everledger platform, and not only for diamonds, but for gemstones, wine,
apparel and other classes of assets as well. Fred Meyer and Littman Jewelers in
the United States will be the first retailers to take advantage of this
enhanced sustainability feature of the Everledger platform.

According to the United Nations, carbon offsetting is
one of the key components for a solution to averting irreversible environmental
changes. Annual emissions have to be reduced by 29-32 gigatonnes of equivalent
carbon dioxide (CO2e) by 2030 in order for mankind to have a chance at meeting
the Paris Agreement goals. Carbon offsetting allows companies and individuals
to mitigate or neutralise carbon emissions by purchasing and retiring carbon
credits through official third-party projects, such as protecting and restoring
critical forests and investment in renewable energy. Carbonfund.org is our
partner for fulfilment using their validated offsetting programmes. 

Commercial benefits of
transparency

In response to growing conscious consumerism in the
diamond industry, Everledger is proud to support all partners who recognise the
social and commercial benefits of increased transparency. By adding to the bank
of evidence around sustainable environmental practices in the diamond industry,
partners can gain a commercial advantage in the market. This business
imperative is driven by the growing demand for provenance data among
climate-aware consumers such as millennials -- one of the fastest-growing retail
segments in the diamond market.

Pioneering with this concept, Shairu & Atit
Diamonds can now provide consumers with real-time data related to the carbon
footprint of their own manufacturing processes. Consumers can view these
sustainability reports on the Everledger platform.

Leanne Kemp, CEO for Everledger, commented: "Earth Day
is the right day to launch this new solution, as it has the aims of the Paris
Agreement and the United Nations' Sustainable Development Goals at its core.
This is the first time consumers will be able to access diamond carbon
footprint information on the blockchain, via the Everledger platform. It's also
the first time carbon offsetting will be possible on a blockchain platform for
jewellery."

Carrie George, VP and Head of Sustainability for
Everledger noted: "Through the Everledger platform, we can now enable our
partners to not only allow efficient tracking and reporting of Greenhouse Gas
Emissions, but also provide the certifications that verify energy efficiency
and renewable sourcing efforts. And for the first time, we are directly linking
the measurement to the solutions they are looking for to offset the remainder
of their climate footprint. We can connect stakeholders faster and more
directly than ever to get their time and money focused directly on the impact
they want to achieve."

Pioneering tech for
eco-centric industries

Ms Kemp highlighted the importance of providing
visibility on environmental standards in complex value chains. "We are
partnering with Shairu & Atit Diamonds because they have demonstrated
leadership in the diamond industry on environmental issues with their continued
investment in physical and digital infrastructure. Releasing this pioneering technology
is a great way to celebrate our company's 5th anniversary as it resonates with
our continued commitment to sustainability. Major players in the diamond
industry are increasingly committed to providing further evidence -- and taking
real action -- regarding their responsible business practices, in particular
around positive environmental footprint. Everledger is ready to help them
achieve those goals."

For more information, visit: www.everledger.io