Although lab-grown diamonds themselves do not involve any form of mining and thus do not lead to mining-related conflicts and environmental destruction, they do not fall under the definition of conflict-free diamonds, as conflict-free diamonds specifically refer to natural diamonds. However, since the production process of lab-grown diamonds avoids many of the ethical and environmental issues associated with natural diamond mining, they are generally considered a more ethically acceptable choice.

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Moissanite is a synthetic gemstone that, although similar to diamonds in many ways, differs in chemical composition, optical properties, and price. Due to its high refractive index and brilliance, moissanite has become a popular alternative to diamonds, particularly when considering ethical and economic factors.