Dealing with forced labor and conflict minerals in the supply chain: an overview of the EU regulation for conflict minerals and comply markets solutions for Due Diligence
The new EU conflict mineral regulation (2017/821) deals with the use of forced labor in reducing minerals in politically unstable areas. These minerals such as Zinn, Tantal, Wolfram and Gold are often sold to finance illegal activities such as buying weapons and can find their way into our cell phones, cars and jewelry.
EU importers of these minerals are obliged to check what they buy to ensure that they were not manufactured in a way that finances conflicts or other illegal practices associated. The Ordinance stipulates that the importers follow a five-stage framework that the Organization for Economic Cooperation and Development (OECD) has presented in a document called 'Due Diligence Guidance for Responsible Supply Chains from Conflict-Affected and High-Risk Area.These steps include:
- Building a strong company management system
- Identification and evaluation of risks in the supply chain
- Development and implementation of a strategy for reaction to identified risks
- Implementation of an independent external examination of the diligence of the supply chain
- Support of annual reporting on the diligence of the supply chain
How ComplyMarket can help you:
ComplyMarket offers theComplyDoc, An intelligent IT and first open source code cloud solution for supply chain sustainability, chemical & product compliance management to collect information from suppliers.ComplyDocSupports them:
- Building a strong company management system
- Identification and evaluation of risks in the supply chain
- Development and implementation of a strategy for reaction to identified risks
- Implementation of an independent external examination of the diligence of the supply chain
- Support for annual reporting on the diligence of the supply chain.