Diamond Confidence

Although the demand for diamonds worldwide has never been stronger and the potential opportunities for future growth are huge, it is important to understand that sustaining future demand for diamonds relies on maintaining consumer confidence now.

The general public need to trust in the integrity of diamonds and in the practices of the industry. The London Diamond Bourse (LDB), alongside the other respected Bourses that are affiliated to the World Federation of Diamond Bourses, strives to uphold the core values of the industry and works tirelessly to maintain strict standards and best practices amongst its members.

LDB plays its part in enhancing consumer confidence in the diamond industry by actively promoting the following key points:

Awareness

We take consumer confidence seriously by:

• keeping abreast of issues;
• identifying potential risks to business and developing effective plans to address these challenges;
• ensuring compliance amongst our members with all relevant national legislation and industry standards regarding business, social, environmental and technical policies;
• questioning suppliers about their own policies and practices and
• knowing who to contact if there is a breach of legislation or best practice

Detection, Disclosure and Differentiation

We promote transparency by:

• subscribing to a set of industry best practice principles and letting our members know about them;
• having confidence in our members' supply chain through relationship building and a continued awareness of the need for disclosure;
• ensuring compliance amongst our members with all relevant national legislation and industry standards regarding business, social, environmental and technical policies;

Vigilance

We help prevent activities which damage consumer confidence by:

• ensure our members are fully aware of anyone attempting to involve them in suspicious transactions and
• ensure that our members' diamond purchases are accompanied by a warranty issued by the seller or a Kimberley Process certificate;

Networking

We aim to enhance the industry's reputation in our community by:

• ensuring that our members' business contacts understand that stimulants, synthetics and treated diamonds are detectable and should be disclosed at all times;
• keeping consumer confidence issues in perspective by maintaining a balance between knowledge, education and concern;
• ensuring compliance amongst our members with all relevant national legislation and industry standards regarding business, social, environmental and technical policies;