Unless you were completely ignoring the news and boycotting the movie industry in 2006, you are likely aware of the global efforts to end the conflict diamond market. Blood Diamond, the 2006 thriller, starring Leonardo Dicaprio and Jennifer Connelly was nominated for 5 academy awards and brought the conflict diamond dilemma to the forefront of the world’s consciousness in a way that the media simply couldn’t.
It forced buyers and sellers to truly think twice about where they source their diamonds and the consequences of failing to do so. In 2003, the Kimberley Process Certification Scheme was established to “ensure that diamond purchases were not financing violence by rebel movements and their allies seeking to undermine legitimate governments.” Since then, many people have questioned the efficacy of the Kimberley Process, as the diamond industry has a reputation for being ingratiated in mystery. For those who are still skeptical, here are the 6 guiding principles of the Kimberley Process, also referred to as the system of warranties.
1. Warranty Declaration
Participants will not trade with any business whose invoices do not include a warranty declaration; this declaration ensures that the company is in compliance with the Kimberley Process.
2. Rejection of Unknown or Suspect Suppliers and Sources
No diamond will be bought from unknown suppliers or suspicious sources. This includes suppliers that are based in countries that do not participate in the Kimberley Process Certification Scheme. Participating countries are represented in dark green, applicants are represented in light green.
3. Due Process
Government regulations adhere to a legally binding system of due process. This system holds businesses in each participating country accountable for remaining in compliance with the KPCS. Participants refuse to buy diamonds from any sources that have a record of noncompliance.
4. Regions Subject to Advisory
Regions from which conflict diamonds are emanating or available for sale are subject to an advisory by governmental authorities. Kimberley Process participants refuse to buy diamonds from any of these regions unless they have been exported in compliance with the KPCS.
5. Refusal to Aid or Abet
Compliance means that businesses cannot intentionally buy, sell or assist others in buying or selling conflict diamonds.
6. All Employees Held Accountable
All employees or all companies that reside in Kimberley compliant countries and regions must be held accountable for being up to date and current on all trade restrictions, resolutions and government regulations regarding conflict diamonds.