The Diamond Box for Dummies

The Diamond Box for Dummies

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If suppliers stop working to meet the Vendors' Code of Conduct, the business might end agreements with those providers, and has actually done so in several instances. Tiffany formerly sourced from the Octea diamond mine in Sierra Leone, which has been related to accusations of labor rights abuse and corruption; yet informed Human Civil liberties View that it quit sourcing from Octea in March 2017.


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Support for artisanal and small mining: Tiffany and Co. has offered monetary assistance for the Ruby Growth Campaign and the Institute for Setting and Growth to help formalize and advertise responsible artisanal mining in both the diamond and gold sectors. It does not source from artisanal mines but states that it is checking out the opportunity of sourcing artisanally-mined steels that have actually been licensed by 3rd parties as sensibly taken care of, and intends to start such purchase quickly.


This had actually been vague from a previous action to Civil rights Watch. Bulgari is an Italian jeweler, owned by the French luxury group LVMH Moet Hennessy Louis Vuitton S.E. (LMVH). The firm has around 200 stores around the world. LVMH's fashion jewelry business had an overall revenue of $3.4 billion in 2016; the revenue of specific firms is not revealed.


Bulgari's parent company, LVMH, has an extra in-depth Vendor's Standard procedure with provisions on labor legal rights and environment that also apply to Bulgari. LVMH's Code was under alteration in late 2017 and Bulgari has notified Civils rights View that it will certainly assessing its Code of Ethics to show the changes.

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The risk analysis also consists of sees roughly yearly to countries where Bulgari sources or is taking into consideration sourcing, and that are thought about more high-risk. In October 2017, Bulgari specified that it plans to collaborate with providers to enhance and expand its due diligence procedures, to guarantee it relates to the whole supply chain, consisting of on-the-ground mine analyses.


When Bulgari finds that a vendor is not in conformity with its standards, the company states it normally offers the supplier between one and six months to fix the issue. Third-party confirmation: Bulgari is licensed against the Code of Practices and the Chain-of-Custody Standard of the RJC. Bulgari states that it carries out third-party audits of its vendors.






It shared the names of its gold vendors with Human Rights View on a confidential basis. Support for artisanal and small-scale mining: Bulgari does not take part in a specialized program to source from artisanal and small mines or assistance campaigns for liable small mining. Cartier was started in Paris in 1847 and has actually considering that turned into one of globe's largest and most well-known fashion jewelry brands.


Its 2016 sales had to do with $5.7 billion. Cartier is owned by Richemont, a luxury goods group based in Switzerland, and represents an estimated 45 percent of Richemont's revenue. Cartier replied to Civil rights Watch's ask for information with three brief letters regarding Cartier's commitment to responsible sourcing and its duty in the RJC.

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Cartier has chain of custody for a few of its gold and resources an unrevealed portion of its gold from a small "model" mine in Honduras. The business, nonetheless, is heavily dependent on the RJC and its qualification system, which, as explained above, has a number of weak points. Cartier forgoes audits for suppliers that are RJC-certified, the huge bulk of their gold and diamond providers.


It does not suggest whether it has chain of custodianship for diamonds. Cartier's company obligation plan does not point out traceability. Cartier's parent business Richemont says that traceability is a lasting goal and a location for improvement for all its firms in the coming years. Richemont's refinery in Switzerland has created sources of gold that it claims are either certified or will certainly become licensed against the RJC Chain-of-Custody Requirement, with a heavy focus on recycled gold.


The Distributor Code of Conduct specifies that where third-party audits of distributors identify areas for renovation, Richemont's "Maisons" (brands) follow up with restorative activity strategies (engagement rings). Under the Code, Richemont likewise reserves the right to terminate service partnerships with suppliers that do not abide by its Standard procedure. It is unclear whether Cartier takes independent steps to impose these arrangements or considers RJC accreditation sufficient

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The business depends on the RJC bookkeeping procedure for third-party audits of its gold and diamond providers. Vendors that are RJC-certified do not need to undertake different audits versus Cartier or Richemont criteria. Annual reporting: Cartier's policies and method to accountable sourcing are defined each year in Richemont's Company Social Duty report.


According to Cartier, the mine makes use of neither cyanide neither mercury to extract and process its gold. The mine integrates a mid-scale gold mine that produces concerning two-thirds of Eurocantera's gold, and an artisanal and small-scale mining community, which produces one-third of the gold. Cartier purchases the entire output of the mine, and refines the gold at a facility in Italy that is solely dedicated to processing gold from the mine.


On the basis of available information, Civil rights Watch considers Pandora to have made modest initiatives to make certain civils rights due persistance. Supply chain plan: Pandora's Vendor's Standard procedure becomes part of all contracts with suppliers, and addresses civils rights, labor civil liberties, environmental management, and company ethics. The Supplier Standard Procedure does visit this page not relate to the vendors' full supply chain, but just to distributors' subcontractors associated with production and manufacturing.


Pandora mentions that in 2016, 91 percent of the gold it bought was recycled; the remainder was newly extracted - Citizen Watches. Given that late 2016, the business has just used recycled gold which aids lessen civils rights threats in its gold supply chain. Nevertheless, the company mentions that it may return to purchases of freshly extracted gold in the future.

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