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KPCS meaning in Business ? |
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Answer» What is Kimberley Process Certification Scheme mean? The Kimberley Process Certification Scheme (KPCS) is the process established in 2003 to prevent "conflict diamonds" from entering the mainstream rough diamond market by United Nations General Assembly Resolution 55/56 following recommendations in the Fowler Report. The process was set up "to ensure that diamond purchases were not financing violence by rebel movements and their allies seeking to undermine legitimate governments." The effectiveness of the process has been brought into question by organizations such as Global Witness (pulled out of the scheme on 5 December 2011) and IMPACT (pulled out on 14 December 2017), claiming it has failed in its purpose and does not provide markets with assurance that the diamonds are not conflict diamonds. Organisations such as Human Rights Watch have also argued that the Kimberley Process is too narrow in scope and does not adequately serve to eliminate other human rights concerns from the diamond production chain. reference
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