The U.S. Securities and Exchange Commission (SEC) continues to receive comment letters from a variety of organizations and individuals about whether to refine conflict minerals reporting requirements under Section 1502 of the Dodd-Frank Act.
This April, Fashion Revolution, a non-profit organization, released their annual Fashion Transparency Index report. The Index ranks 40 of the most recognizable fashion brands based on their supply chain transparency and governance practices. The average score was 42%, with only three brands receiving a “top rating” of up to 77%.
SustainabilityHQ.com Weekly Highlights September 30, 2015
In 2007, the dominoes started to fall. The debt auction rate market caught cold, leading in time to the broad capital markets and housing markets catching pneumonia. Down went the dominoes – click/click/click – US housing prices plunged, lender foreclosures skyrocketed, equity share prices plummeted – and trillions’ of dollars of accumulated wealth disappeared – poof!
"Blood-free" minerals scheme must be binding, EU lawmakers say
Reuters. European importers of minerals from conflict zones should be forced to certify their goods "blood-free", an influential group of EU lawmakers said on Tuesday, seeking to toughen a proposal to prevent the financing of warlords in Africa.
Session Highlight: Quality Tools For Improving Your Company Image
When businesses possess clarity on social responsibility, they can more efficiently translate company principles into effective actions. With the right tools, they can do it with confidence. Holly Duckworth, Ph.D., VP of Continuous Improvement at Kaiser Aluminum, leads the hands-on session “Using Quality Tools to Improve Sustainability: SR-FMEA” in which participants develop their ability to assess and address social responsibility issues within their company, organization, department and home.
Section 1502 of Dodd Frank – “Obama’s Law” - was not instated without debate. In April 2014, National Association of Manufacturers went up against the Securities and Exchange Commission in the US Court of Appeals stating the rule violated the First Amendment. Despite attempts to fight the conflict minerals requirements, the Court of Appeals ruled that issuers must investigate their supply chain and file a special disclosure or Form SD with the SEC.
How the Conflict Minerals Regulation Benefits Congolese Miners
The Enough Project's U.S. and Congo-based groups visited mining communities in eastern Congo to "get an updated assessment on conflict minerals," last month. With the information they gathered, Think Progress recently published “9 Things You Need To Know About Conflict Minerals,” to provide a better understanding of the issues and the severity of the armed conflict in eastern Congo. In particular, Think Progress highlights the positive effects of conflict minerals reforms on reducing the power of armed groups in eastern Congo:
The Foreign Corrupt Practices Act Blog recently reported on the UK government’s announcement of their draft legislation, “Reports on Payments to Governments Regulations 2014.” Currently, all EU member states are required to put in place a similar law by July 20, 2015 and November 26, 2015. If UK’s legislation is adopted, they will be the first EU country to comply with the extractive industry transparency provisions that have been outlined by the EU Accounting Directive and Transparency Directive.
Corporations Should Have Comprehensive, Audit-Traceable Reporting Procedures in Place by Dec. 31; Supply Chain Risk Management Firm Source Intelligence® Urges Action Now for 2015 Reporting
CARLSBAD, CA, July 25, 2014 /3BL Media/ – The two-year grace period for U.S. conflict minerals reporting requirements for large companies ends in less than six months, posing a significant challenge for the nearly 98 percent of companies that recently indicated they could not fully determine whether their products or components contained “3TG” conflict minerals, a leading supply chain management firm announced today.
July 17, 2014 /3BL Media/ – Seven of the world's largest industry associations collaborated with Source Intelligence and Schulte Roth & Zabel LLP to launch a web-based training module within the Conflict Minerals Resource Center (CMRC). The goal of the joint initiative is to deploy an easy-to-use conflict minerals training tool for suppliers in the seven associations’ industries. The training module is based on the best practices developed by leaders in these industries and their suppliers during the 2013 conflict minerals reporting period.