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RAPAPORT... The executive committee of ALROSA recently approved the ALROSA Alliance Guidelines, which will be required for rough contract buyers to sign, confirming their status of best-practices and this ultimately strengthens supplier-to-consumer confidence.
ALROSA enacted the guidelines as a way to demonstrate that its buyers actively practice internationally accepted corporate governance standards and use key international instruments that regulate ethical principles, financial transparency, human rights, ensure security, social and economic stability, and protect the environment. The guidelines are also based on key principles of the United Nations, the laws of the Russian Federation and the strictest industry initiatives for implementing responsible business practices, according to the diamond giant. The Guidelines on Responsible Business Practices require ALROSA Alliance members to: • Fully share the objectives and principles of the Kimberley Process Certification Scheme. When trading in rough and polished diamonds, they also voluntarily inform their business partners of the conflict-free origin of the supplied goods. • Consider ethical business conduct to be vital to the success of the diamond industry and operate in accordance with the principles of lawful and fair competition, anti-corruption and anti-money laundering, financial transparency and information disclosure. • Rigorously observe human and labor rights, avoid discrimination and forced- and child-labor. Relations with employees are based upon the principles of social partnership, adherence to providing safe and appropriate working conditions and to promote social benefits. • Members are actively engaged in activities aimed at minimizing damage to the environment and to be efficient and sustainable with use of subsoil mineral resources. By using the ALROSA Alliance logo, the company stated that long-term customers declare their adherence to these guidelines, commit to implementation in their business activities and in their dealings with business partners throughout the entire diamond supply chain from mine to retail.
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