Conflict Minerals: Repercussions for Global Supply Chain
The final due date for Conflict Minerals reporting is nearing and U.S industries are feeling the pressure of implementing Conflict Minerals law, Dodd Frank SEC 1502 to their supply chains. Halting the massive consumption of raw materials that are being mined by grave human rights abuses in Africa, means transparency in supply chains. Whether the materials are Conflict-Free or not, all publicly traded U.S. companies must comply to the federal law by May 31, 2014. Its an undertaking that’s effecting the system of international supply chains entirely.
The execution of Dodd Frank has put the EU in the limelight of addressing Human Rights abuses in Africa. The fulfillment of European corporate due diligence has been disregarded by the majority of companies and was never an issue that was prompted through their international trading policy. There is high risk that EU supply chains are not only endorsing but fueling the war on humanity in Democratic Republic of the Congo and its surrounding Eastern Provinces.
Currently the European Commission is formulating a legislative act to endorse clean Mineral trading and prohibiting the use of materials deriving from conflict. However, unlike Dodd Frank that requires companies to address the issue by publicly reporting, there is no such expectation for EU companies therefore the probability of transparent mineral sourcing is deficient.
The Dodd-Frank Act has elevated the guidelines for international trade and propelled a Human Rights movement. With few Conflict Minerals Compliance programs, options are limited and stressed to meet the final deadline.
One option is Source Intelligence. Their analytics platform along with their Supplier Engagement Team, engages suppliers, collects, verifies and assesses conflict minerals related data and generates the required forms and reports needed to comply with the SEC's final rule.
Source Intelligence is hosting the first report of its kind, a benchmarking study that will present ACTUAL data, aggregated by industry, to provide insights on:
-Conflict mineral programs in 2013
-Progress to completion of data collection over time
-Incidences of 3TG in the supply chain
-Supplier profiles (by industry and region)
-Challenges incurred in completing the process
-Hurdles of data verification
This report will be preceded by a February 27th webinar. In order to receive an early copy of the benchmarking report, register HERE for the webinar now.
To see a personalized demonstration of what Source Intelligence's platform can do for your company, click HERE