The Kimberley Process

1. The Kimberley Process: What It Is and What It Is Not

The Kimberley Process Certification Scheme (KPCS) was created with a specific and defined purpose: to prevent the trade of diamonds that fund rebel movements seeking to overthrow legitimate governments. Since its establishment in 2003, the KP has:

· Reduced conflict diamonds from an estimated 15% of global trade in the 1990s to less than 1% today.

· Created the first global tracking system for rough diamonds, ensuring that participating countries adhere to minimum certification standards.

· Brought together governments, industry, and civil society in an unprecedented cooperative framework.

However, some critics attempt to judge the KP by standards it was never designed to meet. The latest reports blame the KP for pricing fluctuations, tax loopholes, and misinvoicing practices—issues that fall outside its mandate.

Let’s be clear: The Kimberley Process tracks carats, not financial transactions. Trade mispricing, tax evasion, and illicit financial flows are real problems that deserve attention, but they must be addressed by the right institutions—not by distorting the role of the KP.