WDC President Edward Asscher: Consumers today want to know about a diamond’s provenance

Speaking at the Kimberley Process Intersessional meeting started yesterday, Edward Asscher, President of the World Diamond Council (WDC) said that consumers want to be assured that the diamonds they are considering buying have made a positive impact on the world.
“We must deliver on such demands from both present and future consumers, and at the same time ensure producing countries that they will continue to receive critically important income from their natural resources,” he said.
“The prevailing subjects that are today on the agenda of the international community, as well as that of the diamond industry, are: human rights, environmental protection and social justice. They are certainly being discussed and advanced outside of the Kimberley Process. And we must not be left behind,” the WDC President further stressed.
He said that consumers want to know where their diamonds come from and if they have been produced with respect for universal values, including human rights, social rights and environmental protection.
“These are questions we must also ask within the KP. Diamonds must live up to the values that consumers expect of a product that holds such emotional meaning, and is considered the ultimate expression of love”, Edward Asscher added.
“Consumer desire is the only value driver for diamonds. Not meeting consumer expectations presents a very real risk for the industry, and for countries who rely on diamonds for their economic wellbeing and stability,” he said noting that “the KP plays a unique part in protecting consumer trust in diamonds, with 82 countries standing behind what it represents. And the KP is synonymous with natural diamonds.”
However, he emphasized that “if the KP is left behind, it runs the risk of becoming irrelevant, and so may the category of natural diamonds. Let us not forget that consumers have alternatives. Meeting their trust and ensuring their confidence must be at the top of our agenda.”
Speaking on the WDC’s new System of Warranties to be shortly introduced “to help all participants in our business sector with best practices, compliance and due diligence when purchasing diamonds,” he said that with this “we are sending a strong signal that we are ready to reform.”
Reminding that the KP’s aim is to protect the integrity of natural diamonds, Edward Asscher said in conclusion, “This must be done within the KP – in this very forum – and not elsewhere. We must be able to stand behind our promises and our mandate to protect the rights of those who are connected to the diamond industry, whether they reside in producing countries, polishing countries or in the jewelry markets”.

Vladimir Malakhov, Rough&Polished