Investor Alliance for Human Rights calls on jewelry manufacturers & retailers to ensure responsible sourcing of gold & precious gems
Author: Investor Alliance for Human Rights, Published on: 25 September 2018
The undersigned investors call on companies in the jewelry industry to review their policies and practices and take action to ensure responsible sourcing of gold, diamonds, and other precious minerals and gems. Specifically, we urge jewelry manufacturers and retailers to conduct human rights due diligence in line with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas... Responsible management of global supply chain risks is material to investors. Where businesses fail to respect human rights in their own operations or in their supply chains, there is a risk of expensive litigation and reputational harm... the standards of the Responsible Jewellery Council (RJC)—an industry body that promotes responsible business conduct in the jewelry supply chain by certifying member companies—are not yet aligned with OECD standards on responsible supply chains of minerals from conflict-affected and high-risk areas... [W]e urge the Responsible Jewellery Council to strengthen its standards to set a high bar for responsible sourcing practices in the industry.