DMCC has three accreditation initiatives that incorporate responsible sourcing of gold. These are:
Dubai Good Delivery (DGD)
The Dubai Good Delivery standard was developed by DMCC in 2005 and is regarded as the international benchmark for quality and technical specification for the production of gold and silver.
To access the current Dubai Good Delivery member list, please click the relevant link: DGD Gold Members | DGD Silver Members
Market Deliverable Brand (MDB)
The DMCC’s Market Deliverable Brand is an accreditation initiative that certifies gold and silver refineries (of minimum 1 year of operations) for their quality and technical production of gold and/or silver. For gold refineries, the certification also includes responsible sourcing of their gold bars in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable on an annual basis.
To access the current Market Deliverable Brand member list, please click the relevant link: MDB Gold Members | MDB Silver Members
Responsible Market Participant (RMP)
The DMCC’s Responsible Market Participant is an accreditation initiative that certifies gold market participants (such as gold traders, jewellers, manufacturers, etc of minimum 1 year of operations) for responsibly sourcing of gold in accordance with the ‘DMCC Guidance’ and ‘Review Protocol’. Membership is renewable on an annual basis.
Purpose and benefits of the Accreditation Initiatives
- Globally accepted industry benchmark and reference point for global market participants to ensure their supply chain is free from conflict gold
- Creates a common understanding of the assessment process and determines the level of conformity with the DMCC guidance
- Provides assurance on the adequacy of the due diligence procedures conforming to the DMCC guidance
Comparative analysis of the DMCC Responsible Sourcing Guidance
In June 2013, DMCC appointed SGS London consultants to conduct an expert report comparing DMCC’s Practical Guidance for market participants in the Gold and Precious Metals’ industry (“the DMCC guidance”) with other similar internationally accepted guidelines and industry standards such as those of the Organisation for Economic Co-operation and Development (“the OECD”). The report, published in August 2013, concludes that the DMCC’s Responsible Sourcing Guidance and Review Protocol is aligned with the OECD standards and other international benchmarks.
Independent Governance Committee for Responsible Sourcing
The Independent Governance Committee for Responsible Sourcing was established in January 2015. It provides an independent oversight role on assessments performed pursuant to DMCC's Review Protocol.
The Committee's objectives include:
- To ensure consistency, transparency and robustness of the implementation of the Guidance for responsible sourcing of gold and related review process in accordance with the Review Protocol
- To uphold the integrity of the review process for DMCC’s responsible sourcing programme
- To perform the annual review of the governance framework for the programme
- To ensure continuous improvement of the programme
The Committee is composed of industry experts and key stakeholders representing different market segments and geographies.
Committee members are:
- Effie Marinos, Sustainability Manager, Consumer Testing Services, SGS London (Committee Chair)
- Tawhid Abdulla, Chairman, Dubai Gold and Jewellery Group
- Paul Motmans, CEO, MineralCare
- Pankaj Parekh, Vice-Chairman, Gems and Jewellery Export Promotion Council of India (GJEPC)
- Gerhard Schubert, Precious Metals Expert