Rapaport Corporate Responsibility
The Rapaport Group takes a strong proactive role promoting and implementing corporate responsibility programs around the world. Internal controls and audits ensure that our companies are in full compliance with local and international laws. The group’s in-house compliance team includes experienced lawyers who monitor all our activities and strict adherence to best practice principles. Independent external audits ensure full compliance with all aspects of the Kimberley Process, U.S. Patriot Act, anti-money laundering regulations and other regulations.
Rapaport’s corporate responsibility activities extend well beyond commercial activities. Our mission transcends the standard corporate goals of profit maximization and “adding shareholder value.” We believe that the private sector has a critical and irreplaceable role to play, driving sustainable economic development in the poorest countries of the world. We are committed to using our economic power and strategic positioning in the diamond and jewelry industry to help artisanal diggers and other disadvantaged groups obtain economic self sufficiency. The Rapaport Group regularly donates at least ten percent of profits to charity and initiates programs to alleviate poverty in Africa and elsewhere.
Rapaport Advocacy Programs
- Open, fair and competitive diamond markets. Provide expert opinions and file legal briefs before the European Commission and U.S. courts.
- Conflict Diamonds. Member of the original group that evolved the concept of the Kimberley Process. Active member of the World Diamond Council. Regularly participates in Kimberley Process meetings.
- Development Diamonds. Established and funded first Sierra Leone diggers cooperatives in coordination with U.S.-AID and U.K. DFID. Director of Development Diamond Initiative (DDI). Establish educational fund for the children of Sierra Leone in coordination with US-AID.
- Fair Trade. Established Fair Trade Diamond and Jewelry Association. Funds annual Fair Trade Jewelry Conference and fair trade jewelry exhibit at the Las Vegas Jewelry Show. Establishing programs for fair trade diamonds and gold from Sierra Leone. Joint venture partnerships with jewelry cooperatives in Africa.
Industry Participation includes: Members of World Diamond Council, New York Diamond Dealers Club, U.S.-Diamond Manufacturers and Importers Association, Jewelers Vigilance Committee, Antwerp Diamond Bourse, Israel Diamond Exchange, Israel Diamond Manufacturers Association, India Gem and Jewelry Promotion Council, Dubai Diamond Exchange, Shanghai Diamond Exchange.