In January 2003, governments, non-governmental organizations and the diamond industry created an intergovernmental agreement called the Kimberley Process Certification Scheme ("KPCS") to eradicate conflict diamonds from the world's diamond supply. In April of the same year, the Clean Diamond Trade Act came into being. Many jewelers and diamond jewelry retailers and wholesalers participate in a voluntary program of self-regulation to complement the KPCS in cooperation with the leading organizations in the jewelry industry, including the World Diamond Council and Jewelers of America. Through these joint efforts and as announced by Kimberley Process authorities in 2004, well over 99% of the world's diamond supply is certified to be from sources that are free from conflict.
The Kimberley Process Certification Scheme requires that each shipment of rough diamonds be in a tamper-resistant container and accompanied by a uniquely numbered certificate of origin which contains the details of the shipment’s contents. Diamond and diamond jewelry suppliers must provide guarantees to vendors that the diamonds are from legitimate sources and not involved in funding conflict and in compliance with United Nations Resolutions.
The Role of Governments
In the past, the legitimate supply chain was most vulnerable to exploitation between the time diamonds were mined in the African combat zones and the time they were ported from the country of origin. Now, under KPCS, that problem has been addressed as the rough diamonds are packaged with a certificate of origin soon after they are mined.
Throughout the stages of the diamond’s journey to market, they also carry a certificate describing contents and confirming the stones are from a KPCS participant. These safety measures are having great effect to reduce the conflict diamonds to only 1% of the International diamond trade. Participating countries have pledged to turn back or impound shipments of rough diamonds from any nation that fails to subscribe to the new standards.
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