Companies sourcing from Dem. Rep. of Congo increase efforts to comply with upcoming US conflict mineral reporting deadline
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Author: Source Intelligence
"Companies Ready? Increased Scrutiny in Conflict Minerals Reporting", 8 January 2015
With only 5 months away until the next conflict minerals reporting deadline, companies are mobilizing to address conflict minerals in their supply chains. Reporting year 2015 will mark the first year companies that are subject to Section 1502 of the Dodd Frank Act will no longer be able to file "undeterminable" in their reports...The verification of supplier-provided information is an ongoing effort for conflict minerals due diligence. Thousands attended Source Intelligence's (SI) Smelter Verification webinar...and are now utilizing SI's...program to complete their reporting efforts...SI released...[a] white paper...includ[ing] industry leading knowledge on implementing a manageable solution that maintains a stream of quality smelter information...Conflict Minerals compliance efforts have increased as companies realize the strategic benefits of having a transparent supply chain...Additionally, the U.S. Dodd Frank conflict minerals regulation has initiated increased support from human rights groups and NGOs.
USA: Companies weighing their options on how best to achieve compliance with SEC rules on conflict minerals reporting
Author: Resilinc, on PRweb
“High Tech Companies Weigh Merit of Conflict Minerals Reporting Automation”, 6 January 2015
As we mark the beginning of the third compliance period…of the SEC provision known as the “Conflict Minerals Rule,” reporting companies are still weighing their options for how best to achieve compliance…Under the Rule, if conflict minerals — tin, tantalum, tungsten and gold — are necessary to the functionality or production of products manufactured or contracted to be manufactured by an SEC reporting company, the company must take steps to determine and make specified disclosures…The intent of the Rule is to reduce…funding for armed groups that are committing human rights abuses and contributing to the conflict in the eastern DRC…For organizations with a…complex web of supply chain partners, automation tools are becoming an increasingly viable option. According to a…study…, companies spent on average approximately $545,000…to comply. This makes cloud supply chain risk management solutions from companies like Resilinc...compelling...
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