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Diamond council opens System of Warranties to public

After a period of review and change the World Diamond Council (WDC) has released its new System of Warranties (SoW) – policies and guidelines designed to keep so-called conflict diamonds out of the legitimate diamond trade – for public scrutiny.
Diamond council opens System of Warranties to public Diamond council opens System of Warranties to public Diamond council opens System of Warranties to public Diamond council opens System of Warranties to public Diamond council opens System of Warranties to public

Henry Lazenby in Vancouver

Reforms are said to establish a new level of adherence for members and call on users of SoW statements to ensure their trading activities maintain strict observance of universally accepted principles on human and labour rights, anticorruption and anti-money laundering in support of the obligatory Kimberley Process Certification Scheme implementation.

"While the definition of conflict diamonds as those used to fund rebel movements has provided the necessary focus to drive important change, it is a heart breaking and indisputable truth that the nature of what constitutes conflict has evolved. These SoW reforms reflect our commitment to uphold the duty of care owed to diamond communities by helping ensure safe and secure working conditions, fair labour practices and sustainable development," acting WDC president Stephane Fischler said.

The SoW review and reform process is part of the organisation's strategic plan to help industry participants better implement and demonstrate commitment to responsible business conduct when buying or selling rough and polished diamonds, it said in a statement Thursday.

The draft SoW guidelines are available for review until October 1, with the new reforms slated for implementation starting in 2019.

 

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