August 29, 2018

With fewer than seven weeks to go to the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on October 15, 2018, the third of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Diamond Commission, headed by Udi Sheintal, the report concentrates largely on the way in which man-made stones are being distinguished from diamonds that are natural in origin, particularly in light of the newly released guides by the U.S. Federal Trade Commission.

“While the new FTC guides clearly recognize the synthetic diamond producers as fully-fledged participants in our industry, the bottom line when it comes to the unqualified use of the word ‘diamond’ has not changed,” writes Mr. Sheintal. “It can only refer to a mined stone.”

The report looks at a recently released article about the impact of De Beers’ imminent entry into the man-made diamond jewellery industry, which suggests that over time perceptible differences between the natural and synthetic diamond markets will dissipate, except possibly in the instance of a handful of larger natural diamonds. Mr. Sheintal disagrees with the article’s premise, saying that it is up to the industry to create an identity for naturally-created goods that is different from those grown in a laboratory or factory.

“We now have to create a separate brand identity for diamonds mined in nature,” he writes. “This is a not an impossible exercise. A white cotton t-shirt can be bought in a supermarket for $5, or at a Ralph Lauren store for $70. The physical composition of the two products may be similar, but their legends are very different. While the one is a generic product, the other is a luxury item backed by a sophisticated branding structure. Both are viable from a business perspective.”

To download a full copy of the CIBJO Diamond Commission’s special report, PLEASE CLICK HERE.

August 22, 2018

With fewer than eight weeks to go to the opening of the 2018 CIBJO Congress in Bogotá, Colombia, on October 15, 2018, the second of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, the report examines the influence on the sector by outside forces, be they political, regulatory or the result of decisions by the International Standards Organisation.

“Unlike diamonds and other gemstones, where prices are almost exclusively a function of supply and demand in the jewellery markets, precious metals are also safe haven assets, and as such are subject to forces that simultaneously are driven by both psychology and economics,” writes Mr. Daniel.

The special report specifically looks at the difficulties encountered in predicting the trajectory of precious metals prices because they tend to be influenced by outside political events, and also outlines changes affecting the sector that appear in the recently  released Guides for the Jewelry, Precious Metals, and Pewter Industries by the U.S. Federal Trade Commission.

The report recounts a successful effort undertaken by CIBJO, the Platinum Guild International and other industry bodies to reverse a 2014 decision by the International  Standards Organisation.

“The process underlined the very valuable role that CIBJO can take as an official observer at ISO, working in concert with leading industry associations,” writes Mr. Daniel. “Its position is greatly enhanced because it is seen as being non-partisan, with its primary goal being to defend the interests of consumers.”

To download a full copy of the CIBJO Market & Education Commission’s special report, PLEASE CLICK HERE.

August 20, 2018

CIBJO, The World Jewellery Confederation, has paid tribute to Kofi Annan, the former Secretary General of the United Nations, who died in Switzerland on August 18 at age 80. CIBJO President Gaetano Cavalieri described him as “giant among men, whose legacy will be measured by the millions of people he helped save from abject poverty and hopelessness.”

The first African to head the international body, during his two terms as Secretary General, from 1997 to 2006, the Ghanaian diplomat formulated the Millennium Development Goals and established the UN Global Compact, both of which can be credited for extracting millions of individuals in under-developed regions from poverty and providing them with a promise for a better future. He was awarded the Nobel Peace Prize in 2001 for his role in revitalising the United Nations.

“Kofi Annan’s belief was that we have a collective responsibility for the welfare of all humanity, and that our long-term wellbeing will depend on our ability to improve the lives and futures of the world’s most downtrodden. It was an understanding  that expanded the mission of CIBJO, and I would argue of the jewellery industry in general,” said Dr. Cavalieri.

In 2006, CIBJO became the first and only body in the international jewellery and gemstone sector to obtain special consultative status with the  UN’s Economic and Social Council, and as such committed the jewellery industry to the mission of fulfilling the Millennium Development Goals. These were eight international development goals that were declared by Mr. Annan at the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millennium Declaration. With a 15-year target date, they included, among others, the eradication of extreme poverty and hunger, achieving universal primary education, promoting gender equality and the empowerment of women, ensuring environmental sustainability, and the establishment of a global partnership for development, which included governments, business and civil society. In 2015, after making substantial progress on almost all fronts, they were replaced by the Sustainable Development Goals.

Also in 2006, CIBJO joined the UN Global Compact, which is a United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. It was first proposed by Mr. Annan at the World Economic Forum on January 31, 1999, and was officially launched at UN Headquarters in New York on July 26, 2000. Today it is recognized as the is the world’s largest Corporate Social Responsibility initiative, with 13,000 corporate participants and other stakeholders in more than 170 countries.

“For the past 12 years, CIBJO has worked tirelessly to promoting our societal mission and introducing programmes that underscore our commitment to serving the welfare of all stakeholders in the global jewellery and gemstone sectors, and especially those of living in underdeveloped areas,” said Dr. Cavalieri. “Our contention has been that we, as members of a business community, should be considered by the greater society as being part of the solution. It is a doctrine that largely can be credited to the life and work of Kofi Annan.”