Companies involved in the gold and diamond jewellery business launched a new group on Tuesday aimed at promoting ethical business practices. The group - the Council for Responsible Jewellery Practices - aims for a sweeping approach, unlike other narrowly-focused initiatives such as the Kimberley Process, set up in 2003 to stamp out trade in so-called blood diamonds that fuel conflicts.
The council seeks to address a broad range of issues in all parts of the industry, from mining to the retail sector, a statement said.
"The initiative is unique because it aims to cover ethical, social and environmental issues across every step of the diamond and gold jewellery supply chain, no matter how large or small the business, in all geographies," it said.
As a first step, the group will start a consultation process with stakeholders interested in such issues.
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