The diamond industry

The diamond industry has long been associated with shady deals and corruption. "Blood" diamonds have been used to fund long running conflicts, contributing to the suffering of millions caught up in them.

The Kimberley Process

In 2002 the diamond industry, governments and NGOs agreed on the Kimberley Process - a certification scheme designed to stop conflict diamonds from reaching the international market. The implementation of the Kimberley Process is now an important contributor to building and maintaining peace in fragile diamond-rich countries, by helping to deny resources to rebel movements and by strengthening legitimate governments. The process, however, is voluntary and some have argued that it lacks the necessary teeth to ensure effective implementation. Control mechanisms for participants are weak, and there is no clear system of penalties for non-compliance. There are also still a number of loopholes related to diamond cutting and polishing of diamonds. Recommended reading...

More on the diamond industry: the complete listings from Eldis