February 14, 2014. Cupertino, CA. based Apple Inc. added momentum to the rapidly changing landscape of ethical sourcing in manufacturing. The company announced that its suppliers of tantalum have been verified as “conflict free”. In their 2014 Supplier Responsibility Report, Apple boldly makes public the names of suppliers who have not agreed to be audited for verification.
On Wednesday Apple announced that they will no longer be sourcing Tantalum from regions of conflict. The electronic tycoon asserted that their Tantalum suppliers are free of Conflict Minerals and that they will be announcing fellow suppliers who have not yet engaged in their due diligence to become conflict-free. Apple was previously scrutinized for their partnership with supplier Foxconn and the horrid working conditions for factory employees. Since then the mega brand has featured due diligence in maintaining and preventing better working conditions in their factories.
In response to requests for a single source "news alert" on key events in supply chain and regulated materials compliance, Source Intelligence is pleased to introduce "From The Source," a direct mail and web-based newsletter written to keep you informed at a glance.
2014 promises to be an exciting year as the theme of "transparency" and the impact of technology continue to transform the delivery chain of products, impacting every player up and down stream.
Stakeholders in the ecosystem of supply chain and regulated materials compliance will be surprised to see the similarities and differences of program progress and supplier profiles across industries.This benchmarking study will present ACTUAL data, aggregated by industry, to provide insights on:
According to the rule, an estimated 5,994 public companies that file with the SEC will have to provide new disclosures. Moreover, approximately 275,000 private companies that are part of issuers’ supply chains will also be expected to provide conflict minerals due diligence to their public customers. Furthermore, a 2011 study by Tulane University, assessed the costs of implementing the Dodd-Frank conflict minerals regulation to be $7.93 billion — more than one hundred times greater than the initial estimate prepared by the U.S.
For the second time the regulations put forth in the Dodd-Frank Wall Street Reform and Consumer Protection Act are being challenged. This time a business consortium brought the SEC before the DC Circuit court where 3 judges heard arguments from Peter Keisler from the business coalition and Tracey Hardin from the SEC.
As the 3rd Annual Mining Americas Summit approaches, metal miners are keenly aware of the new social pressures placed on them by the new Dodd-Frank Section 1502 Conflict Minerals Reporting Requirements. Public companies whose products are “in scope” or fall under the rule are required to disclose the origin of tin, tantalum, tungsten and gold (3TG) and address conflicted practices associated with mining of these minerals.
AIAG’s Conflict Minerals Work Group outlines actions that suppliers must take between January 1 and December 31, 2013.
AIAG’s conflict minerals work group, which includes representatives from the OEMs and Tier One suppliers, is working on strategies to help member companies effectively meet the requirements of the SEC’s Conflict Minerals Rule.