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.
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.
Data Scientist Eric Lessert weighs in on holistic data management
More and more global brands and their suppliers have been impacted by the requirements set forth in the Dodd Frank Section 1502, regarding conflict minerals. The regulation stipulates that publically traded companies must disclose their conflict minerals sourcing.
Session Highlight: Risk and Opportunity in the Supply Chain
Tracking the impact of supply chain transportation on the environment isn’t easy for a global automotive corporation—whether for scope 3 reporting or meeting sustainability goals—and it’s never been more important than now. Lee Kindberg, Director of Environment and Sustainability at Maersk Line, hosts the workshop “Delivering Sustainability: Supply Chain Transportation, Footprinting, Metrics and Communications,” and provides valuable insight into efficient assessment practices, as well as standardized tools that help simplify calculations so you can meet—and exceed—your company’s KPIs.
With the increase in production from around the world and the need for raw materials growing at an alarming rate, companies from all over the globe are being pressured, by the public, to act on their due diligence and maintain a conflict mineral free supply chain.
Weren’t able to attend the premier session on the industry’s initiatives to help companies manage conflict minerals reporting? You’re in luck…
September 24, 2014 /3BL Media/ - This year’s Conflict Minerals Industry Briefing III was highlighted by the opportunity to hear a summary of Conflict Minerals Reporting - Year 1 as well as get information on upcoming changes in the year ahead.
Average U.S. Firm Screened Hundreds of Suppliers for Conflict Minerals The Wall Street Journal. Some 1,300 U.S.-listed companies recently filed reports on whether their suppliers used minerals from mines blamed for fueling violence in the Democratic Republic of the Congo and surrounding area. Read More >>