ALROSA ALLIANCE Guidelines on Responsible Business Practices
ALROSA seeks to create a sustainable future through maintaining a responsible balance between commercial and public interests. ALROSA is irrevocably committed to continuous development of the regions where its production facilities are located by creating jobs and improving living standards for local communities, generating tax revenues for budgets at different levels, building social infrastructure and protecting the environment, including contributing to the achievement of the UN Sustainable Development Goals.
Taking into account the need to represent the interests of the global diamond industry at large in the best possible manner, and with regard to the importance of building and strengthening end consumers’ confidence in diamonds, ALROSA attaches special attention to client selection, seeking to enter into commercial relationships only with clients who are capable of demonstrating proper legal compliance, ensuring financial sustainability, and meeting the highest business ethical and reputation standards.
As part of developing its corporate business standards and adherence to best practices in the diamond industry as well as to enhance the credibility of the ALROSA ALLIANCE Logo, ALROSA has developed and adopted the “ALROSA ALLIANCE Guidelines on Responsible Business Practices”.
The Guidelines are meant to be used by ALROSA, its long-term clients and other diamond industry stakeholders as a guidance to compliance with high business standards, corporate ethics and governance throughout the entire diamond supply chain.
This document forms an integral part of the ALROSA ALLIANCE Logo license agreement open for signing by long-term buyers of rough diamonds produced by ALROSA to endorse their status of a reliable buyer of rough diamonds and strengthen supplier-consumer confidence.
By providing and using the ALROSA ALLIANCE Logo, the ALROSA ALLIANCE Members declare their adherence to the Guidelines and commitment to the implementation of the Guidelines in their business activities and in the process of interaction with their clients and partners from mine to retail.
The Guidelines are based on the experience of the implementation of the world’s best business practices, internationally-accepted corporate governance and industry-self regulation standards and key international instruments that stipulate financial transparency, respect of human rights, security, social and economic development, and protection of the environment. The Guidelines are based on key documents of the United Nations Organization (UN), laws of the Russian Federation, and the best industry initiatives for implementing responsible business practices.
ALROSA ALLIANCE Members:
- Confirm their compliance with the requirements and principles of the Kimberley Process and the System of Warranties of the World Diamond Council;
- Consider ethical business conduct a recipe for success for the diamond industry, and operate in accordance with the principles of lawful and fair competition, anti-corruption and anti-money laundering, financial transparency and information disclosure;
- Rigorously observe human and labor rights, and avoid discrimination, forced and child labor. Relations with employees are based on the principles of social partnership, adherence to providing safe and appropriate working conditions and promoting social benefits;
- Take decisive actions aimed at reducing negative effect on the environment, rational use of mineral resources and environment protection.
Clients who may be entitled to use the ALROSA ALLIANCE Logo must meet the following criteria:
- Maintain best standards of business practice and corporate ethics;
- Show a high level of professionalism and production efficiency;
- Have the ability to add value to diamond products;
- Have a distribution network with a broad geographical exposure;
- Adhere to responsible trading practices on the diamond market;
- Satisfy the requirements and criteria set forth in the Regulations on the Procedure and Terms of Sales of Natural Rough Diamonds by ALROSA.
Any incompliance with the requirements for responsible business practices contained in the Guidelines may be deemed a ground for forfeiture of a right to use the ALROSA ALLIANCE Logo.