Corporate Social responsibility Case Study

'Cleaning' the Diamond: De Beers' Fifth 'C'

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Abstract:
De Beers, the world's largest diamond mining and trading company, has been criticised for trading diamonds from the conflict areas in Africa, and thus indirectly supporting the rebel groups in their wars against the legitimate governments, since the 1990s. To clean its tarnished image and rebuild the confidence of its partners, local governments, regulators and civil society organisations as well as the consumers, the diamond giant has taken up certain initiatives, in the early 21st century.

Pedagogical Objectives:

• To discuss the issue of 'conflict diamonds' from a socio-economic perspective, and the measures taken by De Beers and the diamond industry to curb the trade in conflict diamonds
• To discuss the Kimberley process certification scheme as a model Corporate Social Responsibility (CSR) initiative, a self-regulatory model for an industry, and a manifestation of the joint endeavours of the business corporations, civil society, governments, and the UN (United Nations).

Keywords : Corporate Social Responsibility Case Study De Beers, The diamond industry, The diamond syndicate, cartel, Kimberley process certification scheme, Forevermark, The Diamond Trading Company (DTC), Best practice principles, Civil strife, wars, Conflict diamonds, Angola, Sierra Leone, Liberia, Sightholders, Democratic Republic of Congo, World Diamond Council (WDC), Clean Diamond Trade Act, Corporate social responsibility