Trade Groups Join Forces on Responsible Sourcing

RAPAPORT... The World Jewellery Confederation (CIBJO) and the ColouredGemstones Working Group (CGWG) will collaborate to help companies in theindustry implement responsible sourcing for gemstones such as rubies, emeraldsand sapphires.The groups will develop management tools and resources thatcolored-gemstone businesses can download free of charge, to support them in conductingdue diligence of their supply chains. "What we are accomplishing through this agreement goesbeyond making declarative statements about the need to practice responsiblesourcing," CIBJO president Gaetano Cavalieri said Tuesday. "it also provides members of our industry, and especially the manysmall and medium-sized companies of which we are predominantly comprised,practical means of getting the job done."The CGWG is an alliance of companies that helps the gemstone industry achieve sustainability, and is facilitated by The Dragonfly Initiative (TDI), an advisory firm. The alliance comprises Tiffany& Co., Swarovski, Richemont, Muzo Companies, LVMH, Kering, and Gemfields.CIBJO and CGWG signed a memorandum of understanding at the Organisation forEconomic Co-operation and Development (OECD) Responsible Minerals Forum, whichtook place in Paris in April. Image: Assheton Stewart Carter, CEO of TDI (left), and Gaetano Cavalieri signing the MoU. (World Jewellery Confederation)