Automakers are leading the way with their long-term commitment to corporate social responsibility and assertive supply chain transparency initiatives. At a recent event, members from the Automotive Industry Action Group (AIAG) met to discuss leading practices in identifying and combating the funding of “conflict minerals” from areas of conflict, specifically Democratic Republic of Congo.
Last month, Democratic Republic of Congo (DRC) Mines Minister Martin Kabwelulu issued a formal statement recognizing adverse issues influencing the fraud and smuggling of conflict minerals in South Kivu. Minister Kabwelulu called for a thorough clean-up of the area’s mining sector.
On August 25th, the U.S. Government Accountability Office (GAO) released a 56-page report on findings regarding the 2015 reporting year SEC Conflict Minerals Rule filings. This year, over 1200 publicly-traded companies were required by Dodd Frank Act Section 1502 (Conflict Minerals Rule) to file annual specialized disclosure forms and conflict minerals reports.
Cobalt is a mineral that leads to human rights violations in the Congo, but is not one of the minerals included in the Dodd-Frank Section 1502 Conflict Minerals Rule. Cobalt is an example of why 3TG should just be a starting-off point for companies investigating their supply chains, which can help uncover potential areas of risk and instances of unethical sourcing
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Cobalt is a mineral that leads to human rights violations in the Congo, but is not one of the minerals included in the Dodd-Frank Section 1502 Conflict Minerals Rule. Cobalt is an example of why 3TG should just be a starting-off point for companies investigating their supply chains, which can help uncover potential areas of risk and instances of unethical sourcing
Companies can utilize Conflict Minerals Reporting as an opportunity to thoroughly investigate their supply chains, create value-sharing and mitigate risk by getting to know their suppliers throughout the supply chain.
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Last week, Source Intelligence released “Conflict Minerals Reporting. A Deeper Look into RY2015 SEC Filings.” The report provides an in-depth analysis of benchmarking data from over 1200 Conflict Minerals Reports submitted by public companies, in accordance with Dodd Frank Act Section 1502.
As we move into the second half of 2016, it is important to reflect on the events that we have seen so far in 2016 for supply chain transparency. We saw the global modern day slavery movement enhanced by many regions of the world passing legislation. There have also been new approaches developed by NGO's to tackle slavery in supply chains. The same can be said for conflict minerals. More companies started to take an active approach to identifying the origin of 3TG.
July 20, 2016 /3BL Media/ - On May 31, 2016, over 1200 companies filed conflict mineral reports (CMRs) in accordance with Dodd Frank Act Section 1502 (Conflict Minerals Rule.) Source Intelligence analysts mined and aggregated data points from the filings to provide key benchmarks and insights for companies to utilize in the next reporting cycle.
From a survey of over 3,000 corporate managers, LNS Research found that companies using EHS software not only allowed companies to streamline their EHS programs, but also provided many corporate advantages. 75% of companies using EHS software were able to identify points of risk in their operations, versus 34% of companies that did not.
