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Groups Join Forces on Responsible Sourcing

May 22, 2019 6:18 AM   By Rapaport News
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RAPAPORT... The World Jewellery Confederation (CIBJO) and the Coloured Gemstones Working Group (CGWG) will collaborate to help companies in the industry implement responsible sourcing for gemstones such as rubies, emeralds and sapphires.

The groups will develop management tools and resources that colored-gemstone businesses can download free of charge, to support them in conducting due diligence of their supply chains.

“What we are accomplishing through this agreement goes beyond making declarative statements about the need to practice responsible sourcing,” CIBJO president Gaetano Cavalieri said Tuesday. “it also provides members of our industry, and especially the many small 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 for Economic Co-operation and Development (OECD) Responsible Minerals Forum, which took place in Paris in April.

Image: Assheton Stewart Carter, CEO of TDI (left), and Gaetano Cavalieri signing the MoU. (World Jewellery Confederation)
Tags: CGWG, CIBJO, Coloured Gemstones Working Group, Gaetano Cavalieri, Gemfields, kering, LVMH, Muzo Companies, oecd, Rapaport News, Responsible Minerals Forum, responsible sourcing, Richemont, Swarovski, Tiffany & Co, World Jewellery Confederation
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