Last week, Signet Jewelers announced its Responsible Sourcing Protocol for Diamonds (D-SRSP), aimed at providing increased transparency and improvement in the integrity of the global diamond supply.
To develop the D-SRSP, it consulted with the Responsible Jewellery Council (RJC), as well as the De Beers Group, both well-versed in the provision of standards in the industry. The D-SRSP was developed to harmonise with the RJC standards and De Beers’ Best Practice Principles (BPPs), which are required for all De Beers sightholders.
Head of government and industry relations for De Beers, Feriel Zerouki said: “Diamonds are an emotional product and it is our collective responsibility as an industry to provide consumers with confidence in the diamonds they purchase. De Beers supports robust and aligned standards in the jewellery industry that ensure that the supply chain is monitored and provenance is assured. We are therefore pleased that our sightholders can demonstrate compliance to the D-SRSP through the BPPs.”
The RJC’s Code of Practices and its Provenance Claim Provision are the preeminent global standards for all participants in the jewellery supply chain, from mine to retail. Both Signet and De Beers are founding and certified members of the RJC and are represented on the RJC Executive Committee and Board.
Signet Jewelers’ chief legal, risk and corporate affairs officer, Lynn Dennison said: “Signet partners with its suppliers to help them join the RJC. This on-going support demonstrates the value Signet places on our business relationships with our suppliers.”
The RJC has confirmed that its members who are also Signet suppliers can include their existing and any future Responsible Sourcing Protocol audits for gold and diamonds in their RJC certification.
“This major benefit enables our suppliers to certify the integrity of their gold and diamond supply chains, avoiding audit duplication,” Dennison continued. “This collaborative effort between the RJC and Signet reduces the burden of audits.”