Controversial commodities

While diamonds may have sparkled in Audrey Hepburn’s eyes, today they are often stained by blood. In many

African countries torn by civil war such as Angola and Ivory Coast, diamonds are mined under slave-like conditions

in order to fund the conflicting parties. Within the framework of the so-called Kimberley Process numerous

countries, companies, and NGOs have been trying to put a lid on this flood of blood diamonds via certification.

Nevertheless, stones from conflict regions continue to enter the market.

 

Clean diamonds

Tiffany generates more than half of its sales from diamonds and early acknowledged its responsibility in that

area. The company actively supports the Kimberley process, but also goes beyond it in order to ensure full

control over all stages of its diamond production. For example it operates its own mines and has set up alliances

with mines that provide the company with clearly traceable, conflict-free raw diamonds. Since 2002, they have

been processed exclusively in-house. This way Tiffany can guarantee it will not be infiltrated by any (already cut)

conflict diamonds.

 

The company has also set stringent standards for precious metals, obtaining 98% of its material from clearly

identifiable, responsibly managed sources.

 

Tiffany’s gems are not only politically, but also environmentally clean: in addition to its efforts aimed at the

ecofriendly mining of diamonds Tiffany has been an active advocate against diamond mines in ecologically

sensitive regions. Also, Tiffany uses recycled gold for its jewels and re-used paper for its elaborate packaging.

 

Fair wages

Tiffany is convinced that in most diamond producing countries in Africa and Asia, market wages do not provide

a satisfactory income for the workers and their families. Therefore the company has surveyed the actual cost of

living in the respective countries in detail and has increased wages accordingly. This is unheard of in the industry.

 

(Dominik Benedikt)