SOCIAL RESPONSIBILITY REPORT
Published: Nov 18, 2022
We, the management of Dana Augustine Inc (DAI) have reviewed our policies, procedures and the actions based on those policies and find DAI is continuing to follow and promote strong ethical business practices that promote responsible sourcing and a operation that is socially responsible. We would like to thank our employee, suppliers and all stakeholders involved is our efforts to further human rights, safety and environmentally friendly practice throughout our operation.
What happened in 2021/2022?
SUPPLY CHAIN – DAI introduced one new supplier into our mix, and we are happy to say this Supplier met our requests, matched our practices and maintained low risk level. DAI continued the practice of purchasing from only a small number of vendors. The relationship life with these vendors averages overage 20 years with a couple of them dating back to 1981. All of our suppliers have adopted strong practices regarding their own supply chain control, and as such, all have a risk factor scorecard 4-5 for low risk.
Our Diamond purchases were concentrated in 4 suppliers making up 76.1% of our volume with 8 suppliers providing the remaining 23.9%. However, several of the smaller suppliers are related entities to some of our larger suppliers. In Gold, whether it be raw gold or mounting, 85.2% of the purchases came from 3 suppliers while 5 smaller suppliers provided the remaining 14.8%. Lastly, two suppliers who have contracted with DAI since the 80’s supplied 83.9% of our required gemstones, and two other who have contracted with DAI for over ten years supplied the remaining 16.1%
Early this year, Russia was sanctioned for the human rights violations taking place in the Ukraine. DAI immediately incorporated these sanctions banning sourcing of any kind from Russia. DAI disseminated this to our entire supply to implement a 100% ban. This ban will remain in place until an international consensus is reached that the human right violations have ceased.
HUMAN RIGHTS – In addition to the Russia sanction, DAI continues to push for human rights in the workplace by providing a safe workplace free of unnecessary dangers and free of hostility. DAI implemented new training by providing two courses in diversity and inclusion. These courses are professionally developed and delivered by a third party contractor in the training industry.
DAI has been a long time strong support of Jewelers For Children, which donated more than $60 million to help children who are the victim of catastrophic illness or life-threatening abuse and neglect. DAI continues to support JFC and will for years to come.
This DAI wanted to expand its giving and reached out to a local charity who has been doing great work for more than 50 years. Must Ministries serves! Plain and simple, with a variety of services, they serve the elderly, the young, the desperate.
Please join us by using the links above to support this wonderful organizations.
ENVIRONMENT – DAI joined the LED revolution. In three or four phases over the last twelve months, DAI has replaced 100% of the lighting in the company headquarters, design center and shop with LED lights reducing the need for power to become a more efficient environmentally friendly operation.
DAI is studying our field operations to determine the best way to mprove those operations and their impact on the environment. Follow us on social media to find out what we come up with.
Your Thoughts – Please share with us your thoughts on our Social Impact. If you have any questions or concerns regarding our practices and there social impact, you may email us directly at [email protected].
This Report has been reviewed and endorse by senior management and all owners of Dana Augustine Inc.