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Article

3 Jul 2012

Author:
GreenBiz.com

[US] SEC sets vote on conflict minerals rule

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After a nearly two-year delay, the U.S. Securities and Exchange Commission has set a date to vote on a ruling that requires public companies to disclose if they use conflict minerals from the Democratic Republic of Congo and surrounding areas. The SEC...[will] meet on Aug. 22 to consider the rule, a provision of the 2010 Dodd-Frank Act...The ruling comes amid rising pressure...for companies to improve the transparency of their supply chains...The SEC faced mounting criticism for taking so long...after missing the April 17, 2011 statutory deadline...“I believe conflict has gone on for as long as it has because the conflict minerals and revenues from mining go to feed the rebel groups,” Patricia Jurewicz, director for the Responsible Sourcing Network, said... [Some] companies...say it’s not their job to ensure the integrity of [their] products...But a number of big name companies back the bill... [refers to Source 44, HP, Intel, Sony, SanDisk]