The World Diamond Council, the body representing the diamond industry from miners to retailers within the Kimberley Process (KP) today launched the implementation phase of the updated System of Warranties (SoW), an industry self-regulation system set up nearly two decades ago which requires buyers and sellers of diamonds to include a warranty statement on all invoices and memo’s.
In his final address at last week's Kimberly Process, virtual intersessional, organized under the Chairmanship of the Russian Federation, World Diamond Council President Edward Asscher, representing the diamond industry in the tripartite organization established to eradicate conflict diamonds from the trade, left little room for interpretation on the consequences of a status quo withing the KPCS.
Last week Pandora announced it would no longer sell mined diamonds, and instead launched a collection using lab-grown diamonds (LGDs), as a part of their sustainability strategy. The announcement caused leading diamond and jewelry organizations to lash out as they believe the retailer misrepresented natural diamonds and caused harm to the industry.
The World Diamond Council (WDC) and Responsible Jewellery Council (RJC) have entered a cross-membership partnership and signed mutual codes of conduct. The two leading diamond and jewelry industry organizations are dedicated to the adoption of responsible business practices across the supply chain.
During a virtual Board Meeting, the Board of Directors of the World Diamond Council, the organization that is mandated to lead the industry's efforts in combating conflict diamonds, elected Edward Asscher as President, serving a second term at the helm of the WDC. In a press release, Edward Asscher, who recently took a step back in the Asscher Diamonds family business, commended outgoing President Stephane Fischler; “In taking over from Stephane, I am filling giant shoes.
At the conclusion of the KPCS Plenary Session in New Delhi, India, the Civil Society Coalition (CSC) in a press release says the KP failed to deliver on the mission of the three-year reform cycle, noting “only insignificant changes to the scope and governance” was agreed upon by the members of the scheme.
The EU Plenary, which brings together the three pillars of the KP and its many stakeholders, was marked as a unique opportunity to advance the ambitious reform agenda set in 2017. Under the leadership of the EU, the KP discussed an agenda with three priorities: a deepening of the KP, including the reinforcement of the system of controls and the transformation of KP recommendations into minimum requirements; an expansion of the KP by broadening the definition of conflict diamonds; and professionalization of the KP by, among others, the establishment of a permanent KP secretariat.
The vanguard of independent diamond-industry journalism, Chaim-Even Zohar, last week announced his retirement, bringing more than 40 years of uncompromising investigative reporting to an end.
Diamond sales growth isn’t expected to accelerate any time soon as demand from China continues to slump, according to World Diamond Council President Andrey Polyakov in an interview with Bloomberg. Global polished diamond sales used in jewelry will increase 4 percent annually until at least 2019, according to Polyakov, who is also an ALROSA vice president. His estimate is essentially in line with Alrosa’s estimates for average annual polished sales growth in the past decade, according to the report.
The World Diamond Council (WDC) will hold its 12th Annual General Meeting (AGM) at the Waldorf Astoria Hotel in New York City from September 7-9. The AGM will discuss the Kimberley Process (KP), the implementation of the WDC’s first-ever Strategic Plan, and an enhanced communications platform. The WDC represents the diamond industry in the development and implementation of regulatory and voluntary systems to control the trade in diamonds embargoed by the United Nations or covered by the Kimberley Process Certification Scheme.
ALROSA Vice-President Andrey Polyakov has become World Diamond Council (WDC) President, succeeding Edward Asscher whose two-year term as President ended on May 22. Polyakov has served as WDC Vice President since 2015. WDC members come from the entire international diamond industry supply chain, from mining to retail. The group represents the diamond industry in the development and implementation of regulatory and voluntary systems developed by the United Nations and the Kimberley Process to eradicate trade in conflict diamonds.
With the 37th World Diamond Congress starting today (Monday) and the Kimberley Process intercessional meeting that follows in Dubai, IDEX Online Deputy Editor David Brummer spoke to the World Diamond Council (WDC) about its role in the diamond industry and its relationship with the Kimberley Process.
ALROSA Vice President Andrey Polyakov has been elected World Diamond Council (WDC) Vice President at the WDC's annual general meeting taking place in Moscow. Polyakov will become WDC President in 2016. The WDC members outlined a strategic plan for the coming two years, which includes cooperation with the KP on the issues regarding the exclusion of conflict diamonds from international trade. The Council will continue its work on improving and fulfilling the demands of regulatory and voluntary systems to control the trade in diamonds.
The World Diamond Council (WDC) will hold its Annual General Meeting, from October 12 to 14, in Moscow. Among the high-profile speakers to address the opening session on October 13 will be Alrosa President Andrey Zharkov and senior Russian Finance Ministry officials. Among the issues to be discussed are the challenges to the Kimberley Process and the WDC's response, as well as the council's first strategic organizational plan.
Members of the Kimberley Process were apparently unable to make progress in reaching a consensus decision at the organization's Intersessional meeting in Luanda. The vote on whether Australia or the United Arab Emirates should be elected the deputy chair has been postponed to the Plenary meeting to be held towards the end of this year, said World Diamond Council President Edward Asscher.
Kimberley Process (KP) Chair Angola is preparing to host the organization’s intersessional meeting which starts on Monday and runs until June 26. The meeting will bring together more than 200 delegates from 54 members representing 81 countries to debate its activities since the plenary meeting held in China last November 2014 and to discuss subjects for the plenary session due to be held in Luanda in November.