WDC opens up system of warranties reforms

| June 21st, 2018

WDC opens up system of warranties reforms
"WDC opens up system of warranties reforms"

The World Diamond Council (WDC) has invited the public to review reforms to its System of Warranties (SoW), a method the organization established to keep the supply chain conflict-free.

The WDC created the SoW in 2000 to add extra assurances beyond what the Kimberley Process (KP) offers. The system obligates diamond suppliers and jewelry manufacturers to provide a conflict-free warranty statement each time stones change hands.

The WDC has made a draft of its new guidelines available for review until October 1. It expects the reforms to go into force next year.

While the definition of conflict diamonds as those used to fund rebel movements has provided the necessary focus to drive important change, it is a heartbreaking and indisputable truth that the nature of what constitutes conflict has evolved,” said Stephane Fischler, acting president of the WDC. “These SoW reforms reflect our commitment to uphold the duty of care owed to diamond communities by helping ensure safe and secure working conditions, fair labor practices and sustainable development.”

“Additionally, the reforms are an assurance for consumers that any diamonds they purchase have been ethically and responsibly sourced”, Fischler added.

Source Rapaport

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