It may be a little known fact that diamond mining actually has provided many benefits to economic and social revitalization. It has happened in Botswana, where every child under the age of 13 receives a free education funded by diamond revenues. Diamondfacts.org estimates that 10 million people are supported by the commerce of the diamond industry. Many diamond jewelers and merchants continue this type of social conscience, with an implementation of the Kimberley Process that has reduced the presence of conflict diamonds to less than 1% of those on the market today. Diamond jewelers are often large contributors to charitable events and neighborhood revitalization projects too.

For instance, the Tiffany & Co. Foundation recently contributed $3 million dollars to a preservation project in Manhattan. The contribution was in the form of three separate $1 million dollar donations. They serve three separate purposes.

One million will go to the Battery Conservancy will go towards creating a woodland garden that will help with the Battery Conservancy’s emphasis on sustainability and park preservation. The Battery is one of New York’s oldest public spaces and the Conservancy hopes to preserve the natural heritage for generations to come.

Another one million dollars goes to The National Parks of New York’s Harbor Conservancy group. It will be used to provide access and upkeep of New York harbors. This includes the maintenance or creation of many historic districts and waterfront parks that are part of the New York harbor area.

The final one million dollars goes to the Friends of the High Line group. The high line is an elevated railway that runs along the west end of Manhattan. It will be used to support the creation of grasslands and falls in line with natural conservation.

Luxury appears to have little relevance to everyday social needs, but the two do go hand-in-hand. Without wealth and abundance, it would be very difficult to have the funds needed to support many projects that can benefit a great number of people. In this way, many profitable companies usually do find some way to give back to others. The diamond industry is no different. Its basis is luxury, but luxury without meaning is empty. That’s why you see some of the biggest most affluent names in the diamond industry funding some of the most influential neighborhood revitalization projects.

Tiffany, one of the biggest names in diamonds, funded all of these projects. So, next time you are out to buy diamond jewelry, you can be satisfied knowing that your money is going to bring wonderful memories, not only for you, but others as well, through the charitable donations from the big names in the diamond business. Many social projects are funded by the growth in the diamond industry. While the industry emphasizes luxury, it also emphasizes good stewardship. The diamond is a symbol of love and wealth and when the two come together, powerful things can happen.