Ethics

We adhere to a stringent code of ethics in all of our business ventures. In every country where A.A. Rachminov has a presence, we comply with all respective country regulations. We also follow a corporate governance policy that upholds business best practices and ensures a respectful working environment for all of our employees worldwide. Below are some examples of how seriously we take our role as a socially responsible industry leader:

• We are one of the few diamond exporters in Israel who are members of the Responsible Jewelry Council (RJC), a non-profit organization that sets ethical standards for the jewelry industry.  As part of the RJC, we are committed to its Code of Practices, which is a set of standards guidance regarding human and labor rights, environmental issues, mining practices, product disclosure and more.
• We deal only in natural fancy colored diamonds, and are a member of the Natural Color Diamond Association (NCDA), an organization which promotes global awareness and education of natural colored diamonds.
• Our high-value inventories are stocked only with conflict-free diamonds that are certified by the Kimberly Process Certification Scheme (KPCS), which aims to block the entry of conflict diamonds into the market and prevent their profits from financing rebel- or government-backed violence in their source countries. We have a zero-tolerance policy for sourcing rough diamonds that don’t comply with KPCS regulations.
• We are also a member of the Israeli Export & International Cooperation Institute, which supports trade relations, cooperation and strategic alliances with overseas companies. We are also a member of the Israel Diamond Exchange, which sets trade rules and protocols for the Israeli diamond trade.
• Our company heartily believes in giving back to the community, and we regularly contribute to charity funds that support disabled children.

Supply Chain Policy

1. This policy confirms AA Rachminov Ltd. commitment to respect human rights, avoid contributing to the finance of conflict and comply with all relevant UN sanctions, resolutions and laws.

2. AA Rachminov Ltd. is a member of the Responsible Jewellery Council (RJC). As such, we commit to proving, through independent third-party verification, that we:

a. respect human rights according to the Universal Declaration of Human Rights and International Labour Organization Declaration on Fundamental Principles and Rights at Work;

b. do not engage in or tolerate bribery, corruption, money laundering or finance of terrorism;

c. support transparency of government payments and rights-compatible security forces;

d. do not provide direct or indirect support to illegal armed groups;

e. enable stakeholders to voice concerns about the jewellery supply chain; and

f. are implementing the OECD five-step framework as a management process for risk-based due diligence for responsible supply chains of minerals from conflict-affected and high-risk areas.

3. We also commit to using our influence to prevent abuses by others.

4. Regarding serious abuses associated with the extraction, transport or trade of minerals:
We will neither tolerate nor profit from, contribute to, assist or facilitate the commission of:
a. torture, cruel, inhuman and degrading treatment;
b. forced or compulsory labour;
c. the worst forms of child labour;
d. human rights violations and abuses; or
e. war crimes, violations of international humanitarian law, crimes against humanity or genocide.

5. We will immediately stop engaging with upstream suppliers if we find a reasonable risk that they are committing abuses described in paragraph 4 above or are sourcing from, or linked to, any party committing these abuses.

6. Regarding direct or indirect support to non-state armed groups:
We only buy or sell diamonds that are fully compliant with the Kimberley Process Certification Scheme and, as such, will not tolerate direct or indirect support to non-state armed groups, including, but not limited to, procuring diamonds from, making payments to, or otherwise helping or equipping non-state armed groups or their affiliates who illegally:

a. control mine sites, transportation routes, points where diamonds are traded and upstream actors in the supply chain; or

b. tax or extort money or diamonds at mine sites, along transportation routes or at points where diamonds are traded, or from intermediaries, export companies or international traders.

7. We will immediately stop engaging with upstream suppliers if we find a reasonable risk that they are sourcing from, or are linked to, any party providing direct or indirect support to non-state armed groups as described in paragraph 6.

8. Regarding public or private security forces:
We will not provide direct or indirect support to public or private security forces that commit abuses described in paragraph 4 or that act illegally as described in paragraph 6.

9. Regarding bribery and fraudulent misrepresentation of the origin of minerals:
We will not offer, promise, give or demand bribes, and will resist the solicitation of bribes, to conceal or disguise the origin of minerals, or to misrepresent taxes, fees and royalties paid to governments for the purposes of extraction, trade, handling, transport and export of minerals.

10. Regarding money laundering:
We will support and contribute to efforts to eliminate money laundering where we identify a reasonable risk resulting from, or connected to, the extraction, trade, handling, transport or export of minerals.