World Diamonds Council (WDC) president Edward Asscher has implored Kimberley Process (KP) members to expand the definition of conflict diamonds to support long-term consumer confidence.

He addressed delegates during the first day of the 2021 KP Plenary on November 8, highlighting that now was the time for action on expanding the definition of conflict diamonds, since young consumers are increasingly demanding assurance of social and environmental credentials of the products they buy.

"The diamond is a product that has the potential to both speak to the aspirations of this new generation, as a natural resource with the potential of providing sustainable economic and social opportunities to the communities that produce it, or be rejected, as a non-essential luxury item.

“We have the ability to decide that choice, but we will do so only through actions and not empty words,” said Asscher.

He questioned why the KP remained unable to deliver progress on this important issue, especially if all stakeholders understand the necessity of expanding the conflict diamonds definition.

Another global meeting of the KP ended in controversy in July as delegates clashed on the issue of conflict diamonds. Proposals to update the definition of conflict diamonds have been under discussion for many years.

The current language limits the term to rough diamonds used by a rebel group to finance conflict, but excludes violence by ruling authorities. A revamp of the wording can only happen when all participating governments give their approval, and the KP itself lacks the authority to make that change.

Asscher reiterated his prediction of a two-tier diamond industry emerging, with one established tier of companies that can monitor their supply chains independently and meet consumer expectations, and the other seeing companies with diminished market share, often through no fault of their own.

To this end, the WDC’s upgraded System of Warranties, launched in September, could help address this risk by supporting trade in the KP-compliant diamonds throughout the supply chain, while ensuring adherence to human rights, labour rights and essential principles of anti-corruption and anti-money laundering.