Providing forced work and conflict minerals in the supply chain: An Overview of the EU's 'Minerals of Conflict Minerals' and the solutions of ComPlyMarket for the status determination
The new EU 'Conflict Minerals' Regulation (2017/821) deals with the use of forcibly employment in mining minerals in unstable areas. These minerals such as tin, tantal, tungsten and gold are usually sold to finance illegal activities such as buying weapons, and they can enter our mobile phones, cars, vehicles, and jewelry.
These minerals need to check what EU importers have purchased to ensure that they are not produced in a way that finances conflict or other relevant illegal practices. The Regulation foresees a five -stage framework that importers follow in a document called Economic Cooperation and Development Organization (OECD) '(OECD Guidance) for the supply chains responsible for high -risk areas. These steps include:
- Establishing strong company management systems
- Determining and evaluating the risks in the supply chain
- Designing and implementing a strategy to respond to defined risks
- To conduct an independent third -party supervision on supply chain status detection
- Supporting annual reporting for supply chain status detection
How can ComplyMarket help you:
ComplyMarket is an intelligent CT for gathering information from suppliers and the first open source cloud solution for chemical and product compatibility management, its supply chain sustainabilityComplydoc offers.Complydoc It can help the following:
- Establishing strong company management systems
- Determining and evaluating the risks in the supply chain
- Designing and implementing a strategy to respond to defined risks
- To conduct an independent third -party supervision on supply chain status detection
- Supporting annual reporting in supply chain status detection.