Best Practice Principles

It is critical to the diamond trade that consumers are confident that the product is responsibly sourced and manufactured and that the diamonds they purchase are ethically sourced, natural and free from undisclosed enhancements or treatments.

To reassure consumers that they can rely with confidence on the ethical standards of the industry, De Beers Group requires that its Sightholders subscribe to a suite of Best Practice Principles. These include full disclosure of simulants; synthetics and treated diamonds; diamonds are from legitimate sources; maintaining the highest industry ethics; compliance with local and international working standards; fair treatment and dignity of individuals and environmental best practice.

De Beers established a process of third-party verification of compliance by an independent auditor; each of its clients is required to submit an annual self-assessment which is audited by the third party, supported by random on-site inspections at a prescribed number of client facilities. Breaches of the code can result in sanctions being applied including loss of Sightholder status.  

An industry body, the Responsible Jewellery Council (RJC), was set up with similar objectives and has largely implemented this standard whilst encouraging other mining companies and stakeholders in the wider jewellery industry to adopt this standard. 

Hennig, whilst maintaining the highest standards in all its commercial activities, also plays a role in disseminating any new requirements to the Sightholders and consulting with De Beers Group on the practical issues faced by clients with their implementation.

Hennig assists clients in preparing self-assessment submissions and conducting checks prior to the third-party audits.

 

All rights reserved to Hennig & Co. Ltd.