The Diamond Box for Dummies

The Diamond Box for Dummies

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Everything about The Diamond Box

If vendors fall short to meet the Distributors' Code of Conduct, the firm may end agreements with those suppliers, and has done so in numerous instances. Tiffany formerly sourced from the Octea ruby mine in Sierra Leone, which has been associated with claims of labor rights misuse and corruption; yet informed Civils rights Watch that it stopped sourcing from Octea in March 2017.


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Support for artisanal and small-scale mining: Tiffany and Co. has given economic support for the Diamond Development Initiative and the Institute for Environment and Development to help formalize and advertise accountable artisanal mining in both the ruby and gold fields. It does not source from artisanal mines yet states that it is exploring the possibility of sourcing artisanally-mined metals that have been certified by 3rd parties as responsibly handled, and wants to start such procurement soon.


This had been unclear from a previous action to Human being Civil liberty Watch. Bulgari is an Italian jewelry expert, had by the French high-end group LVMH Moet Hennessy Louis Vuitton S.E. (LMVH). The business has about 200 stores worldwide. LVMH's jewelry firms had a complete profits of $3.4 billion in 2016; the income of private companies is not made public.


Bulgari's parent firm, LVMH, has a much more detailed Supplier's Standard procedure with arrangements on labor rights and setting that likewise relate to Bulgari. LVMH's Code was under alteration in late 2017 and Bulgari has notified Human Rights See that it will reviewing its Code of Ethics to mirror the modifications.

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The threat evaluation additionally includes visits around annually to nations where Bulgari resources or is considering sourcing, which are considered extra high-risk. In October 2017, Bulgari specified that it plans to deal with vendors to enhance and enlarge its due persistance procedures, to ensure it puts on the entire supply chain, including on-the-ground mine evaluations.


When Bulgari discovers that a distributor is not in compliance with its standards, the company states it usually gives the provider between one and 6 months to correct the issue. Third-party verification: Bulgari is accredited against the Code of Practices and the Chain-of-Custody Criterion of the RJC. Bulgari mentions that it performs third-party audits of its providers.






It shared the names of its gold providers with Civils rights See on a personal basis. Assistance for artisanal and small mining: Bulgari does not join a dedicated program to source from artisanal and small-scale mines or support initiatives for responsible small mining. Cartier was started in Paris in 1847 and has actually considering that turned into one of globe's biggest and most widely known fashion jewelry brands.


Its 2016 sales had to do with $5.7 billion. Cartier is owned by Richemont, a luxury items team based in Switzerland, and stands for an approximated 45 percent of Richemont's profits. Cartier responded to Human Rights Watch's demand for details with 3 brief letters regarding Cartier's commitment to responsible sourcing and its duty in the RJC.

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Cartier has chain of protection for some of its gold and resources an unrevealed percentage of its gold from a small "version" mine in Honduras. The firm, however, is heavily dependent on the RJC and its certification system, which, as defined above, has a variety of weaknesses. Cartier forgoes audits for providers that are RJC-certified, the huge bulk of their gold and diamond providers.


It does not suggest whether it has chain of protection for diamonds. Cartier's company obligation policy does not mention traceability. Cartier's parent firm Richemont says that traceability is a lasting goal and a location for enhancement for all its firms in the coming years. Richemont's refinery in Switzerland has actually established resources of gold that it states are either licensed or will come to be certified investigate this site versus the RJC Chain-of-Custody Standard, with a hefty focus on recycled gold.


The Supplier Code of Conduct mentions that where third-party audits of suppliers determine locations for renovation, Richemont's "Maisons" (brands) comply with up with therapeutic action plans (Herbelin Watches). Under the Code, Richemont additionally reserves the right to terminate business partnerships with suppliers that do not adhere to its Code of Conduct. It is vague whether Cartier takes independent actions to enforce these arrangements or thinks about RJC accreditation enough

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The business counts on the RJC auditing process for third-party audits of its gold and diamond vendors. Suppliers that are RJC-certified do not need to undertake different audits against Cartier or Richemont criteria. Annual reporting: Cartier's policies and strategy to liable sourcing are defined annually in Richemont's Corporate Social Obligation record.


According to Cartier, the mine makes use of neither cyanide neither mercury to extract and process its gold. The mine integrates a mid-scale cash cow that generates concerning two-thirds of Eurocantera's gold, and an artisanal and small-scale mining neighborhood, which creates one-third of the gold. Cartier gets the whole outcome of the mine, and fine-tunes the gold at a facility in Italy that is entirely devoted to processing gold from the mine.


On the basis of offered info, Civil rights Watch thinks about Pandora to have made moderate efforts to ensure civils rights due diligence. Supply chain policy: Pandora's Supplier's Standard procedure is part of all contracts with distributors, and addresses human rights, labor rights, environmental security, and service principles. The Provider Code of Conduct does not use to the vendors' full supply chain, however only to providers' subcontractors included in production and manufacturing.


Pandora states that in 2016, 91 percent of the gold it bought was reused; the rest was recently mined - Citizen Watches. Given that late 2016, the business has only made use of recycled gold which assists reduce human rights dangers in its gold supply chain. However, the firm states that it might return to purchases of freshly extracted gold in the future.

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