Our Commitments

COMMITMENT TO RESPONSIBLE EXCELLENCE

From a family-owned business established over fifty years ago to an international group today, Richold carries forward a passion for diamonds and deep-rooted family values.

Our journey has been marked by a commitment to merging unique craftsmanship with ethical and sustainable practices. Dedicated at heart, we uphold our principles without seeking external recognition, yet proactively advancing our practices ahead of industry standards.

Sustainable Leadership

As a longstanding member of the Responsible Jewellery Council (RJC) since March 2008, we continually strive to enhance our Corporate Social Responsibility (CSR) practices. Our certification at the RJC’s Code of Practices (COP) for the fourth time underscores our ongoing dedication to maintaining high standards across all aspects of our operations.

The group engages in rigorous annual reviews to track the progress of our ethical sourcing and compliance initiatives, ensuring that our practices remain transparent and in accordance with industry standards.  This commitment is part of our broader effort to manage our supply chain and foster integrity and responsibility, aiming to minimize our environmental impact and uphold our responsibilities to all communities impacted by our activities.

Governance & Transparency

In recent years, Richold has intensified its efforts to reduce its environmental footprint further.

We are deeply committed to respecting biodiversity and actively working towards reducing our carbon footprint.

Additionally, we have strengthened our governance in compliance and corporate social responsibility by establishing a dedicated officer, a CSR advisory committee, and a robust compliance framework.

Compliance & Integrity

ACCOUNTABILITY IN ACTION

At Richold, our foundation is built upon unchanged family values: trust, integrity, and responsibility. These principles guide every facet of our operations, ensuring that our business practices not only comply with international standards but also align with our ethical commitments.

Ethical Sourcing  & Manufacturing

Rough diamonds are sourced through a few selected and trusted partners, ensuring responsible procurement from regions committed to ethical mining practices. Each supplier is required to comply with Richold’s Compliance Pack – which includes a Code of Conduct, a Responsible Sourcing Policy, a Suppliers Traceability Report, a Know Your Counterpart (KYC) form, a Grievance Procedure and an Annual Report. In the event that a supplier fails to meet these stringent criteria, Richold has a robust risk management plan in place to address and rectify such issues promptly, ensuring our supply chain remains uncompromised and adheres to the highest standards of ethical conduct. Cutting and polishing are conducted in our company’s & partner’s facilities, maintaining control and integrity from mine to market. Additionally, in line with international standards and commitments to ethical sourcing, we strictly adhere to importation bans, ensuring our supply chain remains free of conflict diamonds.

Leading by Example 

Richold not only sets high standards for itself but also plays a pivotal role in motivating and requiring our suppliers and partners to adopt similar stringent measures. We actively work with our network to ensure that they not only meet our specific criteria but also embrace our commitment to continuous improvement and ethical excellence.

Traceability & Transparency

Through strict policies and advanced digital traceability tools integrated into our ERP system, we provide clear declarations of the origin and provenance of our diamonds. This ensures that all stakeholders have easy and immediate access to transparent and verifiable information about our diamonds.

Five pillars of our compliance principles

OECD Due Diligence

Implemented in 2022, our due diligence processes are aligned with OECD guidelines to prevent the financing of conflict through the diamond trade.

KPCS Compliance

We strictly adhere to the procedures of the Kimberley Process Certification Scheme (KPCS), which ensures that our diamonds are conflict-free.

World Diamond Council Membership

Our membership with the WDC supports our commitment to industry-leading practices in the diamond trade in June 2024 Richold has successfully completed the System of Warranty assessment.

Commitment to Sustainable Development Goals

Our operations are conducted in a manner that supports the values outlined in the United Nations’ SDGs.

Digital Traceability

Our ERP-specific platform guarantees the traceability of the origin of our diamonds, providing a higher level of assurance and transparency to our clients and partners.

Environmental Performance

BUILDING ENVIRONMENTAL FOUNDATIONS

At Richold, we are dedicated to addressing the various aspects of our impact on the planet. With strong and steady processes now well-established for compliance demonstrating our commitment to supply chain traceability and transparency, we are turning our attention to the environmental challenges within our operations. This shift marks a strategic expansion of our focus, recognizing the critical importance of environmental stewardship as the next priority in our CSR journey.

Key Initiative: New Member of Swiss Triple Impact (STI)

Richold is a proud member of the Swiss Triple Impact program. This initiative is designed to help Swiss companies align with the United Nations Sustainable Development Goals (SDGs). As a participant, Richold commits to making impactful changes in three key areas: environmental sustainability, social inclusion, and economic development.  By being part of this program, we not only enhance our own practices but also contribute to a broader national effort to promote sustainable development. Our involvement allows us to implement structured and measurable actions that significantly reduce our ecological footprint, enhance social well-being, and ensure economic viability for the long term.