The Kimberley Process (KP) is a highly politicized multinational government process that misrepresents itself as a certifier of ethical diamond sourcing while in fact supporting the certification of blood diamonds as legitimate.
The EU is trying to use the KP and Group of Seven (G7) sanctions to illegitimately control the international trade of diamonds through its Belgium trading center by using ineffective exclusionary sanctions processes. This is an attempt to grab power in support of Belgium’s national interests at the expense of diamond producers, manufacturers and consumers.
It should be clear that governments operate in their own self-interests using the KP and G7 sanctions to promote their national, political, economic and security objectives.
Governments cannot and should not be trusted or relied upon to ensure the legitimacy of diamonds. The diamond trade must recognize that governments do what they must to protect their national interests, and these interests are more important to governments than ensuring a responsible and ethical diamond trade.
Witness the KP certification of blood diamonds sourced from the Wagner Group. Witness the US dropping sanctions against Zimbabwe due to concerns about China’s exclusive sourcing of critical Zimbabwe minerals, including uranium.
The diamond industry has its own interests and a responsibility to ensure the legitimacy of the diamonds we buy and sell. We cannot survive if the diamonds we trade support severe human-rights abuses or terrorist funding. The interests of the diamond trade and governments are not the same, and they are not aligned. The KP is a false flag misrepresenting the legitimacy of the diamonds we trade.
The diamond trade must establish its own independent standards for ethical diamond sourcing. Such standards must be based on honest source certification using diamond tracing and blockchain technology to ensure transparent legitimacy.
The way forward is for the trade to address consumers’ desire to buy diamonds that make the world a better place. We must focus on marketing good diamonds while excluding bad diamonds that support human-rights abuses, terrorism and money laundering.
The diamond trade must add value to diamonds by honestly marketing the level of social responsibility their diamonds provide. Not all diamonds are the same. Social responsibility competition will drive better demand and higher prices. Consumers will get the level of social responsibility they are willing to pay for — no more and no less.
There is a reason G-D gave diamonds to the poorest people in the world and made the richest desire them. Bridging that gap is “Tikun Olam” — fixing the world. That is the reason the diamond trade exists.
Image: David Polak/Midjourney
Join Rapaport’s exclusive WhatsApp channel for real-time news, analysis, and insights.
