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Only legislation will stop minerals being traded at the expense of human rights - Conflict minerals found in cars, electronics and other products will only be eradicated with new laws and business buy-in

Author: Zobel Behalal, peace and conflict advocacy officer at CCFD-Terre Solidaire, in Guardian (UK), Published on: 16 December 2013

One of the key drivers underpinning some of the world's worst ongoing violent conflicts over the past few years is the extraction and trade of natural resources...The trade of natural resources continues at the expense of violence and human rights violations. There is an urgent need to create a win-win contract between the economic actors and the local populations in order to create real and sustainable development in countries rich in natural resources. The US has shown the way with the Dodd-Frank Act...[N]obody can deny the determining role of US legislation in the general increase in global awareness of the need to break the link between natural resources and conflicts. Even the European Commission proposal for legislation on the subject, was influenced...by the adoption of the US Dodd-Frank act...The real problem is the legal vacuum preventing stakeholders from acting. The adoption of laws in Europe and elsewhere will be very challenging but it will be vital for present and future generations. If not, countries will have to continue to spend huge sums to resolve conflicts that are funded by natural resources bought up by businesses. [refers to BMW, Ferrari, Porsche, Volkswagen]

Read the full post here

Related companies: BMW Ferrari Volkswagen