During 2021, we began a process of embedding sustainable and responsible business practices into our day-to-day operations. As a member of the Responsible Jewellery Council (RJC), Mastoloni is committed to implementation of the Code of Practices (COP) standard and as such we have developed a range of policies and procedures to ensure our ongoing compliance with its requirements.
We are also committed to developing and nurturing strong relationships with suppliers and other business partners to promote responsible business practices throughout our supply chain.
To achieve this, we carry out due diligence on all our suppliers in alignment with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas (OECD Guidance). In 2021 we took the following initial steps on this journey:
To understand the potential and/or actual risks that might be present in our upstream supply chain, we asked all of our suppliers to complete a survey questionnaire. This questionnaire asked suppliers to provide information on their legal compliance, labour practices, controls to manage child and forced labour risks, how they manage their impacts to the environment, the controls they have in place to ensure adequate workplace health & safety and the due diligence processes they have in place to address risks related to minerals originating from Conflict-Affected and High-Risk Areas (CAHRAs).
Based on these supplier assessments, we did not find any immediate concerns in relation to human rights abuses or poor labour practices. All but one of our suppliers were able to identify the precious metals refiners in our supply chain and all of these refiners have been third-party audited against a standard that is aligned with the OECD Due Diligence Guidance. These standards including one or more of the following:
We have also reviewed the publicly available due diligence audit reports for all of these refiners and we are satisfied that they have robust procedures in place for identifying and mitigating risks related to the souring of minerals from CAHRAs.
Identifying the mining origin of diamonds is a more challenging process given the complex nature of the supply chain, however we are actively engaged with all of our diamonds suppliers to obtain this information in alignment with RJC requirements and the principles of the OECD Due Diligence Guidance.
We will continue to work with our supply chain throughout 2022 to build on these efforts which will include, where applicable, steps to appropriately manage identified risks in alignment with our policies and the requirements of the RJC Code of Practices standard.
In addition to the above we have also implemented processes and controls to manage the environmental impacts of our direct business operations. This has included implementing measure to minimise waste, increase recycling of paper and the implementation energy efficiency measures. During 2022 we will continue to seek opportunities to improve our environmental performance.