Established in 2000 at the initiative of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), the World Diamond Council (WDC) is not-for-profit organization representing the diamond and jewelry industries within the Kimberley Process. Its mission it is to protect the diamond value chain by eliminating the presence of “conflict diamonds.”
WDC fulfills its mission by supporting the development and implementation of regulatory and voluntary systems aimed at eradicating the trade in “conflict diamonds.” These are diamonds that have adversely impacted the lives of individuals or communities, through deliberate acts of unacceptable violence.
The WDC’s members are representative organizations and businesses across the globe that are engaged in all sectors of the diamond value chain, from rough diamond production to retail jewelry.
The WDC is the industry representative in the tripartite coalition of the Kimberley Process (KP) which also includes government and civil society representatives and has been endorsed by the United Nations Security Council and General Assembly. As such, the WDC is involved in the development and management of the Kimberley Process Certification Scheme (KPCS), which is system by which rough diamonds can only be exported and/or imported when accompanied by a KPCS Certificate, issued by the duly appointed authority of the government of the exporting country and received by the similar authority of the importing country. The KPCS Certificate indicates that due diligence has been performed to ascertain that the merchandise in question are not “conflict diamonds,” as they are defined by the KP Core Document.
To extend the effectiveness of the Kimberley Process Certification Scheme (KPCS) beyond the export and import of rough diamonds, the WDC has established its System of Warranties (SoW). It requires buyers and sellers of rough diamonds, polished diamonds and jewelry containing diamonds to pass on a warranty statement on B2B invoices and memos each time diamonds change hands, assuring the next buyer that the diamonds originated from sources in compliance with the KPCS. It also includes a commitment that the buyers and sellers adhere to the new WDC Guidelines, which support universally accepted principle of human and labor rights, anti-corruption and anti-money laundering (AML).