What is the Kimberley Process and how does Shane Co. support it?
The Kimberley Process is a vital step toward impeding the trade of conflict diamonds. Conflict diamonds, also known as "blood" diamonds, are gemstones sold to finance violent rebel movements. Conflict diamonds have been linked to atrocities in Sierra Leone and the Democratic Republic of the Congo.
In order to put an end to financing violence, and to set consumers' minds at ease about funding human rights violations, South African diamond producing states met in Kimberley, South Africa in May of 2000 to devise a solution.
With the support of the United Nations, the diamond industry, world governments and NGOs went to work. Nearly two years of negotiations ultimately produced the Kimberley Process Certification Scheme (KPCS). The scheme outlines strict standards for rough diamond trade to guard against conflict diamond trafficking.
The Kimberley Process is made up of 43 states and regional economic integration organizations. Together, these participants account for approximately 99.8% of the global production of rough diamonds. The process has been very effective and continues to evolve. Annual meetings and open communication between participants are bringing the world increasingly closer to eradicating conflict diamond trading across the globe.
Information in the paragraphs above is adapted from the following source: Kimberley Process Web Site
Shane Co.'s Policy
We uphold the highest standards of business ethics for ourselves, our vendors and suppliers. We only do business with vendors and suppliers who comply with the Kimberley Process, the Voluntary System of Warranties, and United Nations resolutions pertaining to conflict diamonds. In fact, well before the Kimberley Process was established, Shane Co. issued letters to all its vendors insisting that they be vigilant about not purchasing diamonds from conflict areas. Since 1929 the Shane family has taken the utmost care to do business only with suppliers who possess integrity. Purchasing our gemstones directly from cutters allows us to be extremely selective with our suppliers.