Representatives of Botswana and France have signed the Paris Declaration, a document aimed at supporting the natural diamond industry through consistent terminology and sustainability initiatives, industry sources reported.
The agreement was signed by Botswana’s minister of minerals and energy Bogolo Joy Kenewendo and France’s minister delegate for foreign trade and economic attractiveness Nicolas Forissier at the Paris Peace Forum. It was supported by The Diamond Collective (TDC), formerly the Natural Diamond Council (NDC).
Among the most notable proposals in the document is the agreement to use the term "diamond" only in reference to natural goods, and the commitment to responsible, transparent and reliable sourcing, standards for workers’ rights, working conditions, health and safety, and respect for local communities.
The parties also agreed to establish a joint working group, bringing together the signatory states and representatives of the private sector, to monitor the declaration’s implementation and publish an annual progress report, according to Rapaport News.
"[The declaration] is a reminder that the value of a natural diamond extends far beyond its beauty, supporting livelihoods, communities and economies in producing countries around the world," said TDC CEO Amber Pepper.
Theodor Lisovoy, Managing Editor, Rough&Polished
