Signet Develops Responsible Sourcing Standards With Industry Support

(IDEX Online News) – Signet Jewelers Limited’s recently launched Responsible Sourcing Protocol for Diamonds (D-SRSP) was developed in consultation with De Beers, the Responsible Jewelry Council (RJC) and dozens of diamond suppliers, jewelry manufacturers, other trade associations, governments in the US, UK, EU and Canada and civil society stake holders.

Signet launched the initiative to commit to the improvement and increased transparency in the integrity of the diamond supply chain. De Beers’ Best Practice Principles (BPPs) are required of all De Beers Sightholders, and the RJC’s Code of Practices and the Provenance Claim provision are the preeminent global standards for all participants in the jewelry supply chain, from mine to retail.

“The RJC welcomes the introduction of the D-SRSP and was pleased to play a leading role in the development of the protocol,” said RJC executive director Andrew Bone. “The RJC Provenance Claim provision is precisely designed to enable companies to have claims – like the D-SRSP - audited and included as part of their RJC Certification.”

Feriel Zerouki, head of government and industry relations at De Beers, said that the company strove for the highest standards of business integrity and ethics in its operations – and used its influence as an industry leader to raise standards throughout the diamond pipeline.

Signet CEO Mark Light said the industry was always looking to improve and build upon pre-existing standards in the diamond supply chain. He added that the collaboration between Signet and other industry players to develop the D-SRSP was one way of making meaningful improvements in the industry.