Friday, 3rd June 2005 (4317 views)

A new international jewellery group has been set up to promote the industry's corporate responsibility in an attempt to safeguard consumer confidence.

A global organization called The Council for Responsible Jewellery Practices has been set up to draft, and promote adherence to corporate ethical and social standards for the international jewellery industry, according to the Jewelers' Circular Keystone.

The founding members of the organization include around 20 national and international industry organizations and trade groups, including, Jewellers of America, which has 11,000 retail members.

Matthew A. Runci, president of Jewellers of America, outlined plans for the group in his seminar on Consumer Confidence and Social, Ethical and Environmental Responsibility at the JCK conference in Las Vegas.

Mr Runci said: "You, the retail jeweller, are the face of the industry to the public and most directly affected. If we lose the consumer's confidence in us and our product, we lose business."

The CRJP intends to set standards for corporate responsibility from mining to retailing and to promote compliance with them through cooperation among national and international groups.

Formal adoption and implementation of the "Code of Principles" and "Code of Best Practices" is expected in 2006.

 

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