Understanding the Kimberley Process: How It Works And Its Impact on the Diamond Industry
The Kimberley Process (KP) is an international certification system established in 2003 to help protect consumers from buying conflict diamonds. The process works by having countries involved in the diamond trade certify that they have taken measures to ensure their diamonds come from legitimate sources and not conflict zones. These measures include officially tracking the movement of rough diamonds through a chain of custody, performing extensive due diligence on source countries, and requiring participating countries to put into place national legislation regulating the import and export of diamonds. The KP has enormously impacted reducing illegal diamond trading worldwide since its inception. It has also allowed for greater industry transparency and better assurances for customers that what they are purchasing is ethically sourced. The Kimberley Process Certification Scheme was established in 2003 to help ensure that diamonds traded between countries were not being used ...