Signet hosts industry roundtable to discuss responsible sourcing protocol

Gem Diamonds 2

Professional Jeweller attended Signet’s UK industry roundtable to discuss its Responsible Sourcing Protocol for Diamonds (D-SRSP), which aims to provide increased transparency and continuous improvement in the integrity of the global diamond supply.

The D-SRSP builds on existing diamond industry standards, and requires suppliers to carefully map their supply chains, applying a due diligence test to identify and mitigate risks.

To develop the D-SRSP, Signet consulted with diamond mining company, the De Beers Group, along with the Responsible Jewellery Council (RJC), and the D-SRSP adheres to both De Beers’ Best Practice Principles (BPPs) and RJC standards. Both Signet and De Beers are founding and certified members of the RJC, and both companies are represented on the RJC Executive Committee and Board.

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RJC executive director, Andrew Bone, commented: “The RJC welcomes the introduction of the D-SRSP and was pleased to play a leading role in the development of the protocol.”

“As an industry, we are always looking for ways to continually improve and build upon pre-existing standards within the diamond supply chain,” chief executive officer of Signet, Mark Light, said.

“The D-SRSP was developed alongside other industry leaders to ensure increased transparency in a practical and workable way. The goal of this protocol is to make real and meaningful improvements to the diamond supply chain as a whole.”

 

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2 Comments

  1. greg valerio said:

    Yawn. Predictable. Why not actually publish what you currently do, rather than deflect attention through CSR spin. Can our industry please wake up and stop behaving like public school boys.

    • Philip said:

      It’s the first time that the UK government, RJC, WFDB, London Bourse, NAJ, DeBeers and many other industry leaders have supported an industry-wide initiative like this. It’s not predictable, it’s a real innovation. I’m sure SIgnet will publish what the results are, as they have with their successful gold protocol. This is the industry waking up, and it is the first example of action rather than words.

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