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Signet adopts policy promoting transparency in diamond supply chain

Author: Janet H. Cho, Plain Dealer (USA), Published on: 18 February 2016

"Signet Jewelers adopts policy to promote more openness and trust in the diamond supply chain", Feb 16, 2016

Signet Jewelers Limited…announced it had launched the Signet Responsible Sourcing Protocol for Diamonds (D-SRSP), designed to promote greater transparency and commitment to improving the integrity of the global diamond supply chain. Signet created the protocol with input from the diamond industry, including the De Beers Group, Rio Tinto, Dominican Diamond Corp., the World Federation of Diamond Bourses (WFDB), the United States Jewelry Council, the International Diamond Manufacturers Association, Partnership Africa Canada, the Diamond Development Initiative, Jewelers of America, officials from the Organisation for Economic Cooperation and Development (OECD), governments and Signet diamond suppliers. "The D-SRSP builds on existing diamond industry standards, the U.N. Guiding Principles on Business and Human Rights and the OECD's Due Diligence Guidance for Responsible Supply Chains to ensure transparency through a collaborative process that is practical and workable," Signet Chief Executive Mark Light said in a written statement. "…[W]ith the new Responsible Sourcing Protocol for Diamonds, we are asking our suppliers to carefully map their supply chains more rigorously than ever before," he said…Signet said it encourages all the companies involved in the diamond industry to adopt and use the protocol in their own supply chains…[Also refers to Ernest Jones, H.Samuel, Jared The Galleria Of Jewelry, J.B. Robinson Jewelers, Kay Jewelers, Peoples, Piercing Pagoda, and Zales.]

Read the full post here

Related companies: De Beers (part of Anglo American) Ernest Jones (part of Signet) H.Samuel (part of Signet) Kay Jewelers (part of Signet) Rio Tinto Signet Jewelers Zale (part of Signet)