Best Practice Principles Sep.2000
In a booklet prepared for De Beers sightholders, under the heading
"Business Practices," De Beers states the following: "We are
committed to operating our businesses in such a way that we neither engage in,
nor encourage in any manner, the following practices which are regarded as
unacceptable and against the public interest and that of the diamond industry:
- buying and trading rough diamonds from areas where this would encourage
or support conflict and human suffering
- the use of child labor
- practices which intentionally or recklessly endanger or harm the health
or welfare of individuals."
The facts are that the World Federation of Diamond Bourses and the International
Diamond Manufacturer Association have adopted similar resolutions. There is
no doubt in our minds that the entire industry, sightholders or not, are
committed to these practices as well as other ethical principles such as full
disclosure of treatments and honoring all commitments, oral or written. De Beers
does not deserve a medal for being ethical, however, the company is not
profiteering, as the New York Times suggested, from areas of civil unrest. The
hope of everyone is that peace will prevail in war-torn African nations.
