Kimberley Process Certification Scheme Overview - 1051 Words

Kimberley Process Certification Scheme (KPCS) Background Africa has a history of political turmoil, which often led to frequent Coups staged by the military. These armed forces used proceeds from sales of illegitimate diamonds to fund their operations. In Angola, UNITA used the illegitimate trade of diamonds to fund itself. This resulted in sanctions being placed upon Angola by the United Nations Security Council (UNSC) in July 1998. The world became aware that â€Å"conflict diamonds† were being used fund and sustain armed rebel forces in various African countries. Establishment of the KPCS A meeting of Southern African diamond-producing states was held in Kimberley in May 2000 to discuss issues presented by conflict diamonds. This†¦show more content†¦Regularly share information with other Participants including statistical data on mining production and participating in peer review exercises. †¢ The WDC created a System of Warranties for diamonds that has been endorsed by all KPCS participants. Each company trading in diamonds must also keep records of the warranty invoices received and the warranty invoices issued when buying or selling diamonds. This flow of warranties in and out must be audited and reconciled on an annual basis by the company’s auditors. Failure to comply with the requirements of the KPCS will result in a suspension and possibly expulsion from the KPCS. In an instance where non-compliance is reported, Participants are given an opportunity and support to comply with the requirements before they are suspended. This is the current case with Zimbabwe. The Structure of the KPCS [pic] The KPCS relies on The Chair supervises the KPCS. The Chair is elected on an annual basis at a plenary meeting. Various Working Groups then support the Chair. A Working Group on Monitoring monitors each participant to ensure that it is implementing the scheme correctly. Then there is the Working Group of Diamond Experts that reports on the difficulties in implementation and proposed solutions. The Statistics Working Group, which reports on diamond trading data. The Participation Committee reports to the Chair on its recommendations on proposedShow MoreRelatedBlood Diamonds3412 Words   |  14 Pagesthe marketing campaign for diamonds in the United States. This campaign helped to expand the market for diamonds to middle class Americans who had previously believed that diamonds were only for the extremely wealthy. As a result of their marketing scheme, De Beers was able to increase the supply diamonds in the world to meet the new demand. In 1947, the famous slogan â€Å"A diamond is forever† was penned and the De Beers marketing machine was born. By 1982, De Beers was marketing diamonds all over theRead MoreThe Impact of Business Ethic on Organisational Performance14958 Words   |  60 Pages20 2.3 HSBC Business Models – General overview ------------------------------------------------------22 2.4 Analysis of the business model ----------------------------------------------------------------------23 2.5 Summary ---------------------------------------------------------------------------------------------26 CHAPTER 3: PERFORMANCE GAP ANALYSIS 28 3.1 Introduction and chapter overview ------------------------------------------------------------------28Read MoreCloud Computing Security67046 Words   |  269 PagesReviewers Valmiki Mukherjee, Bernd Jaeger, Ulrich Lang, Hassan Takabi, Pw Carey, Xavier Guerin, Troy D. Casey, James Beadel, Anton Chuvakin, Tushar Jain, M S Prasad, Damir Savanovic, Eiji Sasahara, Chad Woolf, Stefan Pettersson, M S Prasad, Nrupak Shah, Kimberley Laris, Henry St. Andre, Jim Peterson, Ariel Litvin, Tatsuya Kamimura, George Ferguson, Andrew Hay, Danielito Vizcayno, K.S. Abhiraj, Liam Lynch, Michael Marks, JP Morgenthal, Amol Godbole, Damu Kuttikrishnan, Rajiv Mishra, Dennis F. Poindexter, Neil