The Rosy Blue Group, the Antwerp based diamond diamond firm, published its first Corporate Social Responsibility (CSR) report, accepted by the United Nations Global Compact Initiative. This makes Rosy Blue the first diamond manufacturer to fully join Global Compact, a voluntary association that asks its corporate members to uphold ten principles relating to human rights, labor, the environment and non-corrupt business conduct.

The report documents how the company has integrated into its global operations their own human rights policies, health and safety standards, and concern for the environment.

Though CSR reports have become increasingly important in a variety of large multi-national corporations, the traditionally fragmented and mostly privately-owned diamond companies have only recently recognized the crucial importance of responsibility, transparency and accountability in the diamond business.

"This is not just another corporate report," comments Dilip Mehta, the group's CEO. "It shares with our stakeholder intimate details about our corporate governance structure.

"Headed by a family council and assisted by a CSR advisory board, we have created various corporate affairs, audit and anti-money laundering and anti-corruption committees throughout our company, supported by a team of compliance managers and officers in each of the 14 international regions in which we operate. This is a process that obviously commenced years ago, and is not related to the current global slowdown."

According to Mehta, consumers will demand CSR compliant suppliers. "We understand that consumers will only continue to give their trust and business to companies which are demonstrating commitment to their social responsibilities."

In line with this understanding, Rosy Blue has a project in Palanpur, Gujarat where it provides clothes, especially school uniforms, to some 125,000 children. These children feel encouraged to attend and stay in school so that they can receive the education needed to become self-reliant. Hospitals, medical care, and direct relief work during catastrophes, are only a few of the many manifestations which have become to many the very reason to associate themselves with the company.

"The adoption of a variety of high standards and corporate policies is one thing. Ensuring full compliance is far more complex and requires extensive auditing of all business activities throughout the year," Mehta added.

The report notes areas where some infringements were still found, and where improvements need to be made. "It is that level of transparency," says Mehta, "that makes the publication of this report a true celebration. It is only partly about what we have achieved. Report is available online at www.rosyblue.com/html/csr_report.html.

Rosy Blue was founded 45 years ago, growing to become one of the largest diamond manufacturing and marketing group, employing more than 10,000 people.