New Resource Encourages Supply Chain Disclosures for ‘Conflict Minerals’
Submitted by: Responsible Business Alliance
Posted: Oct 15, 2019 – 08:30 AM EST
ALEXANDRIA, Va. and AMSTERDAM, Oct. 15 /CSRwire/ - The Responsible Minerals Initiative (RMI), an Initiative of the Responsible Business Alliance, and the Global Reporting Initiative (GRI), have launched a toolkit to advance reporting on sourcing minerals from conflict-affected and high-risk areas.
The resource helps companies report on their commitments, due diligence processes and actions related to social impacts in the supply chain. It highlights the benefits of disclosure and identifies challenges and opportunities. The toolkit also encourages increased and improved reporting, referencing regulatory and stakeholder expectations, with examples of reporting practices and relevant tools.
Companies face growing expectations to demonstrate how they are respecting human rights, the environment, labor rights and business ethics in their operations. This includes within mineral value chains; in particular the adverse impacts from sourcing ‘conflict minerals’ (tin, tantalum, tungsten and gold) as well as cobalt and other minerals.
Governments, international organizations, investors, customers and industry stakeholders expect the private sector to drive responsible behavior and reach upstream actors like smelters, refiners and mine operators. Companies, meanwhile, are expected to identify, assess, cease, prevent and mitigate risks and disclose their actions and outcomes in accordance with globally recognized frameworks.
"The RMI and GRI share a strong commitment to supporting the responsible sourcing of minerals," said Leah Butler, Vice President at the Responsible Business Alliance. "This toolkit is the result of close collaboration between our organizations, members and stakeholders, and we hope companies will use it to improve the quality of their due diligence and impact reporting."
Tim Mohin, Chief Executive of GRI, added: "Leading companies are doing their part to end the conflict and human rights abuses associated with their minerals supply chains. This toolkit provides practical guidance to help companies working on these issues to disclose meaningful and comparable data. By improving transparency, our aim is to increase accountability to help combat these serious issues."
The toolkit developed by GRI and the RMI presents the results of the Corporate Leadership Group, which represented 11 organizations from a range of industries. It includes information from international frameworks, such as the OECD Due Diligence Guidance, and regulatory requirements. There has been input from many stakeholders, including upstream suppliers, smelters and refiners, civil society organizations, and socially responsible investors.
The RMI is one of the most widely used resources for companies from multiple industries to address minerals due diligence challenges in their supply chains, while GRI’s sustainability reporting standards, developed through robust stakeholder consultative processes, are the most widely used by companies and governments worldwide.
The Responsible Minerals Initiative (RMI), an Initiative of the Responsible Business Alliance (RBA), is a multi-industry initiative with more than 380 member companies. Its members contribute to the development and international uptake of a range of tools and resources focused on minerals supply chain due diligence, including independent third-party assessment programs for smelters, Minerals Reporting Templates, supply chain risk assessment tools, Country of Origin data, and guidance documents on responsible sourcing of tin, tantalum, tungsten and gold, and cobalt. The RMI runs regular workshops on responsible sourcing issues and contributes to policy development with civil society organizations and governments.
Headquartered in Amsterdam (Netherlands) with regional offices around the world, Global Reporting Initiative (GRI) is the independent international organization that helps businesses, governments and other organizations understand and communicate their sustainability impacts. The GRI Standards is the world’s most widely adopted sustainability reporting framework.
Jarrett Bens, Director of Communications
Responsible Business Alliance
Phone: +1 571.858.5721
Tom Whittles, Senior Media Relations Manager
Global Reporting Initiative
Phone: +31 (0) 20 531 00 28
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