by Vikas Vij
SOURCE:Justmeans
DESCRIPTION:
Ethically sourced diamonds are an important means of socio-economic development in the local communities of the diamond-producing countries in Africa. Revenue generated from diamond export supports critical investments in infrastructure, healthcare and education in these regions.
However, the onus lies on global diamond traders to ensure that the diamonds are sourced from conflict-free areas and mined under strict international environmental and ethical standards to protect the ecosystems as well as the interests of local communities. Towards this end, Tiffany and Co. has established direct relationships with many of the diamond mines in Africa. According to the company, this direct engagement effort is “unique within the jewelry industry.”
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Image Credit: Flickr via Kim Alaniz
Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.
KEYWORDS: Ethical Production and Consumption, Business & Trade, Tiffany and Co., Kimberley Process Certification Scheme, Conflict-free Diamonds, Conflict Minerals, diamond mining, africa
