As anticipated, the European Union (EU) Conflict Minerals Directive has had a strong start in 2016. On February 1st, the EU Commission, EU Council, and the EU Parliament began trialogue negotiations. The goal of the ongoing negotiations is to reach a final decision on their pending Conflict Minerals Directive, by June 2016.
Year three of conflict minerals compliance is expected to be a year of both progress and change. Companies must continue to perform necessary due diligence to determine the source of tin, tungsten, tantalum and gold (3TG) in their supply chain and report on their process. However, what companies are required to declare may change.
Although the banter about the effectiveness of the conflict minerals rule (Dodd-Frank 1502) and the conflict minerals rule litigation continues, it does not change the fact that publicly traded US based companies are required to investigate their supply chain to determine if tin, tungsten, tantalum and or gold (3TG) originate from Democratic Republic Congo and its surrounding countries. On November 9, the U.S. Court of Appeals for the D.C. Circuit denied the SEC and Amnesty International petitions seeking rehearing en banc of the court’s Aug.
On Tuesday, The Monetary Policy and Trade Subcommittee of the US House of Representatives Committee on Financial Services held a hearing entitled “Dodd-Frank Five Years Later: What Have We Learned from Conflict Minerals Reporting?” with the following witnesses:
NGO rankings/ratings, regardless of the subject matter, always heighten program manager’s and even board room senses. Will the work that I, as the program manager, did for my company to comply be represented well? Will the level of compliance we, as the board room, decided to have, be enough for the NGO?
Report Identifies Opportunities for Transparency and Social Responsibility Impact
CARLSBAD, Calif., Sept. 22 2015 /3BL Media/ – Most U.S. large-cap companies are still lagging in efforts to affect positive change with regard to global humanitarian issues, but existing technology and solutions can quickly reverse this trend. That is among the conclusions expected to be revealed today by a panel of experts participating in a webinar regarding the release of a major research study into corporate social responsibility and conflict minerals filings with the U.S. Securities and Exchange Commission.
The Responsible Sourcing Network recently published their Mining the Disclosures 2015, which took an in-depth look at conflict minerals SEC filings. The report assessed companies processes when tracing their supply chains back to where their minerals were sourced from in an effort to ensure they were conflict-free.