(PRESS RELEASE) NEW YORK — The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, announced its support of the Organization for Economic Co-operation and Development (OECD) Due Diligence Guidance (DDG) at the Annual OECD Forum on Responsible Mineral Supply Chains.
“The World Diamond Council is committed to establishing a sustainable and safe environment for mining communities, and we believe the OECD DDG assurance process is a critical factor for advancing that vision,” said WDC Acting President Stephane Fischler. Building on the Kimberley Process and along with the World Federation of Diamond Bourses, the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the Responsible Jewellery Council, we are confident in the various industry initiatives that now exist to dramatically reduce conflict diamonds.”
More than a dozen members of the WDC attended the OECD Forum on Responsible Mineral Supply Chains this week, and two members served as panelists in a discussion about the future of diamonds. As the first mineral based industry to introduce its own due diligence process for responsible supply chains (in conjunction with governments and under the United Nations), the diamond sector was in a unique position to offer insight and guidance at the Forum, based on the success of its own Kimberley Process Certification Scheme (KPCS), which has been in place since 2003.
In its third edition, the OECD DDG provides detailed recommendations to help companies respect human rights and avoid contributing to conflict through their mineral purchasing decisions and practices. This Guidance is for use by any company potentially sourcing minerals or metals from conflict-affected and high-risk areas.