Sustainability - Busatti 1947

The Ethics of Busatti 1947

Jewelry runs in the blood of Lalla and Davide Busatti, third-generation jewelers whose family history dates back to 1947 with their grandfather Antonio and their father Luigi. To liberally express their passion, vision, and expertise, the siblings branched out on their own, founding Busatti 1947, a new project based in Milan. Enhanced by their enthusiasm and unique hands-on experience gained over the years, Lalla and Davide are driven by their father’s motto, “Go your way and follow your instinct fearlessly.” Forged on their idea of uniqueness, Busatti 1947 creates one-off pieces that blend handmade in Italy virtuosity and artistry, creativity with wearability.
The siblings have lived and breathed jewelry since an early age. They would travel to exotic, remote countries with their father, Luigi Busatti, soaking in and adapting to the traditions of each culture. From Japan to India, from Indonesia to Thailand, under Luigi’s wing, they learned the tricks of the métier: how to use the early morning light to perceive the color and quality of the stones, how to listen to the sound of pearls by spinning them in their hands, and how to carry out endless negotiations while building solid relationships. This forged their unrivaled know-how based on competence and instinct.
With a yin-and-yang synergy, the underlying DNA of Busatti 1947 is defined by Lalla’s creativity and Davide’s ability to find beautiful yet unconventional stones that offer a unique starting point. When sourcing the stones, Davide still follows his dad’s precious advice: buy a stone if it speaks to you, if you feel it, even if it doesn’t meet the classic standards.
Balancing tradition and innovation, technology and artisanship, Busatti 1947 is defined by a harmonious mix of the expected and unexpected, by classics revisited with a contemporary twist. No matter how intricate, each piece is imagined to be worn daily and unabashedly for whatever is on your agenda–work, a stroll, or a black-tie event. This commitment to enhancing a woman’s beauty and self-confidence with a feel-good vibe is what sets Busatti 1947 apart.

Ethical Code of Busatti 1947

The Ethics of Busatti 1947 (BST s.r.l.) is based on a Code of Conduct that outlines the ethical principles to be followed by all company employees and collaborators. This document represents a shared commitment to exemplary behavior, with a particular focus on respecting national and international laws, regulations, and best practices in ethical, social, and environmental matters.
The company emphasizes the importance of credibility and its image, which are built on a responsible approach and adherence to high ethical standards. The values and principles of the Code are inspired by significant international documents such as the OECD Guidelines for Multinational Enterprises, the UN Women’s Empowerment Principles, the United Nations Global Compact, and the Universal Declaration of Human Rights. This Code forms the foundation of the work carried out at Busatti 1947, translating these principles into concrete and responsible behaviors.

Annual Report Due Diligence

INTRODUCTION

Busatti 1947 (BST 1947) has developed a sustainability pathway aimed at continuously improving its social and environmental performance. The company’s broad vision of Corporate Social Responsibility defines the areas in which it commits to generating value and promoting future actions. Busatti 1947’s commitment is reflected at every level, with a firm respect for human rights and responsible sourcing. As part of the RJC certification, the company has set long-term goals.

HUMAN RIGHTS

The United Nations and OECD principles provide Busatti 1947 with the necessary tools to acknowledge and demonstrate its respect for human rights. The company has adopted the following:

A human rights policy
A due diligence process
A remedy mechanism
A communication plan

REFLECTIONS ON HUMAN RIGHTS

This year, our commitment to human rights has materialized through tangible and measurable actions. In addition to strictly adhering to the United Nations and OECD principles, we have enriched our corporate culture with several initiatives aimed at ensuring that every voice, both internal and external, is heard and valued.

We have promoted human rights training sessions for our employees, created direct communication channels to collect feedback, and implemented inclusive policies and gender equality measures.

In 2023, we embarked on our journey towards RJC-CoP certification, aiming to meet all the requirements set forth by the standard and current legislation. This commitment not only demonstrates our dedication to social responsibility but also brings us closer to realizing our vision of being a company that excels in the market while raising the standards of Corporate Social Responsibility. Our environmental and social performance has become an integral part of our corporate identity, representing one of the fundamental pillars of our strategic decisions.

HUMAN RIGHTS POLICY

Busatti 1947 is committed to:

Respecting Human Rights and adhering to the United Nations Guiding Principles on Business and Human Rights.
Condemning and prohibiting any form of violence and harassment, including gender-based violence and workplace bullying.
Condemning and prohibiting child labor and forced labor in all its operations and supply chains.
Complying with applicable laws and international regulations (including national laws and ILO Conventions) regarding workers’ rights, including the right to freedom of association, compliance with working hours, ensuring fair wages, and preventing discrimination and human trafficking.
Regularly reviewing the policy to ensure continuous improvement, considering legislative updates, changes to its code of conduct, and any other corporate requirements.
Continuously working to improve working conditions to ensure employee satisfaction and meet the expectations of key stakeholders.
Engaging with and raising awareness among suppliers, ensuring they participate in monitoring activities across the entire supply chain.
Satisfying the needs of employees and being responsive to the requests of stakeholders.
Promoting adequate training programs to ensure the ultimate protection of workers’ safety.
Supporting the development of local communities in the areas where the company operates.
Ensuring that this policy is effectively documented, implemented, maintained, communicated, and made accessible to all employees, including directors, managers, supervisors, and staff.
Making this policy publicly available to stakeholders upon request.

DUE DILIGENCE PROCESS

Our due diligence process has been a guiding principle in identifying and mitigating risks:

Comprehensive Impact Assessment: With a new risk management process, we have mapped every variable, making our predictive model more accurate.
Action and Response: We have not only responded to risks but also transformed them into opportunities for improvement, implementing proactive policies and targeted development plans.
Action Traceability: A real-time tracking system has been implemented for every corrective action, ensuring unprecedented transparency.
Communication and Reporting: Annually, we will publish an update on our due diligence process, promoting ongoing dialogue with all stakeholders.

SUPPLIER ENGAGEMENT STRATEGY REPORT

During the year, we took the initiative to send due diligence questionnaires to our suppliers in order to better understand their operational practices and the level of alignment with our ethical standards. This data collection process is ongoing and allows us to build an increasingly detailed picture of our supply chain. We are proud to note that the majority of our suppliers already hold RJC (CoP) certification, a clear indication that responsible practices are a fundamental principle shared within our commercial network. We will continue to collect and analyze the questionnaires over the coming months to ensure that every business partner adheres to the high standards that both our customers and we expect.

Additionally, we are actively encouraging non-certified suppliers to begin the RJC certification process, providing support and resources to help them meet the required criteria. This initiative not only strengthens our commercial network but also helps disseminate best practices and ethical standards across the industry, promoting a shared culture of responsibility and sustainability.

Conclusions

We recognize the importance of continuous dialogue and proactive action to maintain an ethical and responsible supply chain. Through the gradual distribution and collection of self-assessment questionnaires, we are establishing an ongoing process of verification and improvement. It is reassuring to observe that nearly all currently used suppliers are RJC certified, confirming our commitment to selecting partners who not only share but embody our principles of social and environmental responsibility.

Looking ahead, integrating the results of the questionnaires will enable us to further consolidate the foundation of trust and transparency upon which our business relationships are built. It remains a priority for Busatti 1947 to continue in this direction, continuously raising our standards and those of the entire industry.

The Management is committed to maintaining an open dialogue with all members of our value chain, ensuring that corporate ethics always come first. This shared growth path is the tangible sign of Busatti 1947’s commitment to a more sustainable and fair future.

Anti-corruption Policy

For the company Busatti 1947, everything starts with values.

There is no higher priority than being loyal, fair, and honest. It does not matter the territories in which we operate, nor our relationships with suppliers, customers, public administrations, and other stakeholders: we must live our values such as respect for people, honesty, transparency, and integrity.

Our commitment to integrity and compliance with ethical conduct is particularly important in the area of prevention and detection of corruption. Our attitude towards corruption is clear: the policy we apply is zero tolerance. We know we operate in difficult environments and in cultures where corruption can be widespread, but this can never be an excuse. It is essential to ensure that our people and those working on our behalf understand their responsibilities and behave according to our values.

It is the company’s choice to comply with all laws, regulations, and regulations on the fight against corruption, in Italy and in all the countries in which it operates. The company Busatti 1947 Srl is committed to conducting its business activities in a way that does not involve any type of corruption and does not facilitate or risk involvement in illegal situations: this is in relations with public subjects and with Private Subjects.

The Policy is aimed at anyone who works for the Company worldwide, regardless of location, function, or level of seniority. The corporate policy on anti-corruption clearly includes the commitment to:

Prohibit Corruption in all practices and transactions carried out by the company and by agents acting on its behalf;
Establish the criteria and approve the procedures that Employees must adopt regarding the offer and/or acceptance of donations by third parties;
Protect the reputation of the Company;
Promote responsible practices among the main business partners;
Support the communities in which it operates by offering their support to initiatives;
Ensure compliance with all anti-corruption laws applicable to the Company;
Strengthen international enforcement and awareness of anti-corruption laws;
Prohibit corruption in all practices and transactions carried out by the company and by agents acting on our behalf;
Protect employees from feelings or negative consequences for having identified good faith aspects related to corruption, for refusing to participate in bribery, or to make a facilitator payment where Facilitative Payments are prohibited, even if such behavior could cause losses to the enterprise;

In particular:

a) Provision of monetary and in-kind benefits: It is forbidden to grant benefits of any kind (money, promises of employment, etc.) in favor of representatives of the Italian or foreign Public Administration, Partners, or their next relatives, aimed at acquiring favorable treatment in the conduct of any business activity or that can in any case influence the independence of judgment or induce to assure any advantage for the company.
b) Gifts: It is forbidden to distribute gifts and perform acts of courtesy and hospitality to representatives of public officials and public employees, in charge of public service and employees of Partners, if not within the limits of a modest value and in any case such as not to compromise the integrity or reputation of one of the parties and could not be interpreted, by an impartial observer, as aimed at gaining improper advantages.
c) Acceptance of monetary and in-kind benefits: It is forbidden to receive money, gifts, or any other benefit or to accept the promise, from anyone who intends to enter into a relationship with the Company and wants to unduly achieve a more favorable treatment than the one due.
d) Commercial incentives: Any commercial incentive must be in line with the common market practices in the country of reference, must not exceed the limits of value allowed, and must have been approved in accordance with the provisions of the internal rules. The recognition of any commission, discount, credit, and rebate must be granted in accordance with current legislation and officially granted to corporate entities, upon presentation of supporting documentation.
f) Performance: It is forbidden to perform services in favor of external collaborators and partners who do not find adequate justification in the context of the contractual relationship established with the same, as well as pay compensation in favor of the same that do not find adequate justification in relation to the type of task to be performed.
g) Cash use: No payment over €3,000 can be made in cash both in Italy (where it is the legal limit) and abroad.
i) Sponsorships: Sponsorship will be provided for the sole purpose of promoting the image and services provided by the company.

No employee will ever be penalized, not even by evaluation of the result, salary, or any other method, for refusing to pay bribes. However, advance planning is part of a legitimate evaluation of an employee’s performance; therefore, you should always plan ahead, so that you do not have to face a situation in which a bribe is claimed to speed up a request.

The Company applies a “zero tolerance” approach to violations of this Policy. All employees are required to uphold the ethical standards of the Policy and must take responsible action to prevent any violation of the Policy. The admonition and/or termination of the employment contract is foreseen for any intentional violation of this Policy or for the non-communication and for the violations of which it is known. Infractions may also refer to law enforcement authorities and imply criminal proceedings. Corruption is a crime punishable by severe prison sentences.

Policy for Social Responsibility and Human Rights

Busatti 1947, a leading company in jewelry production, is firmly committed to pursuing excellence not only in production processes but also in social responsibility and adherence to the highest ethical principles. Our Integrated Policy is based on the OECD guidelines and includes the following due diligence procedure:

1. Risk Identification and Assessment:

We map the supply chain to identify all parties and processes involved.
We assess risks regarding human rights, environmental impact, corruption, and other social issues, with particular attention to critical materials such as diamonds and gold.

2. Supplier Audit and Verification:

Request for certifications and documentation confirming compliance with RJC requirements, ensuring practices in line with OECD guidelines.
Conducting regular audits and inspections at suppliers deemed high-risk.

3. Engagement and Collaboration:

Establishing continuous dialogue with suppliers and promoting targeted training to ensure that our ethical standards are understood and implemented.

4. Response to Feedback:

Developing corrective action plans in case of non-compliance and, if necessary, terminating business relationships with suppliers who do not meet our standards.

5. Reporting and Transparency:

Accurate documentation of all stages of the due diligence process and creation of periodic reports illustrating activities carried out and progress made.

General Principles of the Policy:

Respect for Human Rights: We operate in full respect of human rights and adhere to the United Nations principles on business and human rights.
Workplace Environment: We aim for continuous improvement of working conditions and the full satisfaction of our employees.
Sustainable Development: We support the development of local communities and are committed to improving living conditions in the areas where we operate.
Stakeholder Engagement: We are open to dialogue with all stakeholders and to regular assessment of our policy for continuous improvement.
Policy Communication: Our policy is documented, active, communicated to all staff, and available to the public upon request.

This policy and the due diligence procedure demonstrate Busatti 1947’s commitment to operating with integrity, transparency, and an unwavering commitment to social responsibility.

Product Quality and Safety Policy

The company Busatti 1947

has as its primary objective to provide its products at high levels of quality and safety, in full satisfaction of customer needs and in compliance with mandatory requirements.

In relation to the customer’s request Busatti 1947 undertakes to:

Never issue untruthful, misleading or deceptive statements, or make any significant omissions in the sale, advertising or marketing of diamonds, synthetics or simulants and/or products containing gold or platinums;
Implement the Kimberley Process Certification System;
Instruct sales personnel to comply with legal obligations, so that they do not (deliberately or accidentally) form misleading or deceptive statements about the products offered for sale;
Prohibit the buying and selling of diamonds from conflict zones;
Provide the certificate for each diamond exported that proves compliance with the Kimberley Process scheme;
Do not import from, or export to, a non-member country of the Kimberley Process;
Do not buy rough diamonds without Kimberley Process certification;
Know the relevant national legislation that applies the Kimberley Process in all the jurisdictions in which it operates;
Make responsible marketing;
Consider and respond to all consumer complaints.

In addition, the Busatti 1947 company undertakes to apply the following requirements to support the disclosure of physical characteristics, in detail:

a) Gold and platinoids:

The fineness of gold and platinoids is communicated in a precise way. The description of the fineness or the title is equally evident as the term “gold” or platinum, or abbreviation, and any quality marks used are applied under applicable law or industry standards.

b) Treated diamonds:

The treated diamonds are diffused as “treated” or with specific reference to the treatment to which they are subjected. The description is just as evident as the term “diamond”. Any particular attention requirement determined by the treatment is communicated.

c) Synthetic diamonds:

All or partially synthetic diamonds are diffused as “laboratory”, “produced in the laboratory”, and/or “synthetic” and the description is just as evident as the term “diamond”.

d) Simulants:

Simulants that mimic the appearance of diamonds are as widespread as the mineral or compound they are made of.

e) Diamond quality – Smooth / finished diamonds:

In describing the weight, color, clarity or cut of diamonds and synthetic stones, these data correspond to the specific recognized guidelines.

f) Health and Safety information related to the Product:

Any health and safety information concerning diamonds, synthetic stones, gold and/or platinum-containing products sold by the company to the final consumer is communicated.

Health and Safety Policy at Work

The company Busatti 1947, as part of its activities and with a view to achieving the company objectives of providing reliable and qualified services, believes that the improvement and maintenance of the safety and health of workers in the workplace constitute a fundamental and unavoidable component of these primary objectives.

The company management, in order to support the implementation of the management system implemented for the prevention of injuries and for the improvement of health services, undertakes to:

Comply with the legal requirements applicable to one’s own activity and other undersigned regarding health and safety at work;
Disseminate the principles and culture of health and safety at work to all staff through appropriate training and information;
Make available all necessary human and material resources;
Ensure systematic staff sensitization in order to prevent and contain accidents;
Evaluate the recommendations and suggestions of each company actor in terms of health and safety at work, considering the collaboration of all the company departments essential in order to promote, with their behavior and their actions, the continuous improvement of the security conditions and health of workers.

Environmental Policy

The company Busatti 1947, evaluating the environment as a conditioning and strategic factor in the exercise and development of company activities, has adopted an Environmental Policy aimed at identifying the environmental aspects determined by its activities and seizing the opportunities for improvement that can emerge in the coming years.

The corporate action is therefore aimed at satisfying not only customer requests and legislative and regulatory requirements, but also environmental protection requirements with a constructive attitude on environmental issues. In this sense it commits itself to:

Train and authorize personnel to identify and reduce the impact of company activities on the environment, promoting at all levels a widespread sense of responsibility towards the environment, including through the enhancement of the event management service;
Manage all business activities in compliance with national and international laws and regulations and other signed ones and to monitor such compliance;
Preventing pollution by managing the company, designing and implementing any changes or new activities in consideration of the interactions with the various environmental sectors and with the local context;
Ensuring the continuous improvement of environmental performance, by appropriately defining measurement methods for their systematic evaluation;
Replace and/or improve company equipment for a lower environmental impact;
Optimizing the use of natural resources through the rational and efficient use of energy resources and materials, through consumption control;
Disseminate its environmental policy with its suppliers and include environmental aspects among its supplier evaluation criteria;
Communicate with customers, suppliers, and institutions to improve the sharing of environmental management with these subjects.