We recently participated in the Diamond Conference held in Dubai, hosted by DMCC. This event marked a transformative moment for the global diamond industry, with leaders and stakeholders convening from across the world. The conference underscored the industry’s collective commitment to transparency, sustainability, and inclusivity. A highlight of the event was the closing address by World Diamond Council (WDC) President Feriel Zerouki, which outlined key milestones achieved during the Plenary and the path forward for the Kimberley Process and its participants.
Digital Transformation: A Leap Toward Traceability
One of the most significant advancements at the 2024 Plenary was the introduction of QR-coded secure digital certificates, an initiative spearheaded by the UAE. This innovative solution promises to replace traditional paper-based KP certificates, making them more secure and adaptable. For instance, these digital certificates can now list multiple countries of mining origin, a crucial step for improving transparency and traceability across the diamond supply chain.
This digitization effort not only enhances the reliability of the KP certification scheme but also aligns with global demands for greater accountability in the diamond trade. By offering this technology to all KP Participants at no cost, the UAE has set a remarkable precedent for modernization in the industry.
Expanding the Definition of Conflict Diamonds
Ms. Zerouki’s address emphasized the importance of evolving the Kimberley Process to meet the expectations of modern markets. A central aspect of this evolution is the need to broaden the definition of conflict diamonds. The current definition, primarily focused on diamonds financing armed conflict, needs to encompass a wider range of unethical practices that undermine human rights and sustainability.
By advocating for this expansion, the WDC aims to reinforce consumer trust in natural diamonds while safeguarding the livelihoods of communities throughout the supply chain. The call for unity and compromise among KP Participants is pivotal to achieving this critical update to the certification process.
A Unified Vision for the Future
Closing her address, Ms. Zerouki reaffirmed the WDC’s dedication to fostering a responsible, sustainable, and equitable diamond industry. She highlighted the shared responsibility of all stakeholders in inspiring consumer trust and driving meaningful change.
The 2024 Kimberley Process Plenary has laid the groundwork for significant progress in the years to come. From embracing digitization to broadening the conflict diamond definition and supporting post-conflict nations, these initiatives represent a collective effort to strengthen the integrity of the global diamond supply chain.
Looking Ahead
As the diamond industry continues to evolve, the initiatives introduced and milestones achieved at the 2024 KP Plenary signal a brighter, more transparent future. By addressing both technological and ethical challenges, the Kimberley Process and its stakeholders are ensuring that diamonds remain not only symbols of beauty and luxury but also of responsibility and progress.
Let us celebrate these strides and commit to supporting a diamond industry that values sustainability, inclusivity, and transparency. Together, we can build a future that truly sparkles with integrity.
