Approximately 1,200 publicly traded companies filed Conflict Minerals Reports with the SEC this year, in accordance with Dodd-Frank Section 1502 (Conflict Minerals Rule).
Source Intelligence has analyzed data collected from the 2015 filings, and mined meaningful insights for companies to utilize for the 2016 reporting year. Key findings demonstrate differences and similarities between industries, trends from past reporting years, and new findings from 2015.
On Wednesday, June 15th, The European Union (EU) agreed to outline a deal to facilitate a focus on transparency in the supply chain. This legislation concerns the sourcing of conflict minerals, not just in the Democratic Republic of the Congo, but from high-risk regions, worldwide.
"We need to step up to our responsibilities and finally break the vicious cycle of the trade in minerals and the financing of conflict," - EU Trade Commissioner Cecilia Malmstrom
The EU is one of the world’s largest trading bodies, accounting for 16.5% of the world's imports and exports. The EU has become a centralized market for products that contain conflict minerals. Conflict minerals are key components of products like jewelry, cars, phones, laptops and medical devices.
Transparency is the key to complete traceability in supply chain. When transparency increases, companies have better insights into where their products are coming from and how they’ve been made. Data is the key in supplier networks that provides greater data accuracy, clarity, and insights, leading to more contextual intelligence shared across supply chains.
Canada and the European Union are the latest to join the ‘world stage’ for Conflict Minerals reporting requirements. Both global economies proposed legislation that closely resemble Dodd Frank Section 1502 = evidence that conflict minerals is a growing GLOBAL concern.
The international expansion of Conflict Minerals legislation has mobilized key executives from global companies to adopt supply chain transparency to appease court of law.
After the United States published Dodd Frank Section 1502 on Conflict Minerals Due Diligence, Canada and the European Union were quick to follow. The United States Conflict Minerals law impacts publicly traded companies, while the Canadian Bill impacts both public and private companies.
Canada and the European Union are the latest to join the ‘world stage’ for Conflict Minerals reporting requirements. Both global economics proposed legislation that closely resemble Dodd Frank Section 1502 = evidence that conflict minerals is a growing GLOBAL concern.
The international expansion of Conflict Minerals legislation has mobilized key executives from global companies to adopt supply chain transparency to appease court of law AND the court of public opinion.
