Despite stakeholders’ increasing recognition to prevent human rights abuses in the extraction and trade of minerals, public reporting on conflict minerals by companies remains limited, and the quality and comparability of existing reports presents opportunities for improvement. The Global Reporting Initiative (GRI) and Responsible Minerals Initiative (RMI) are collaborating on a 15-month project to help change that, by provide globally applicable guidance and tools for reporting.
The project aims to improve the quality and comparability of due diligence disclosure through consolidated reporting guidance. The new guidance will be based on existing internationally-recognized tools and frameworks, such as the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. It is expected to help refine companies’ existing due diligence management systems and related public reporting.
“As companies face increasingly stringent reporting expectations from governments, shareholders and others regarding minerals sourced from conflict-affected and high-risk areas, this RMI-GRI project is not only timely but crucial for companies trying to meet market and regulatory expectations,” said Tim Mohin, Chief Executive of the GRI.
Meaningful and comparable data help companies improve their regulatory compliance, identify their gaps, and promote accountability and transparency in the minerals supply chain. With this knowledge, companies are also further enabled to make informed decisions about potential conflict minerals in their supply chains.
The RMI is one of the most widely used resources for companies to address minerals due diligence challenges in their supply chains, and GRI’s reporting standards, developed through robust stakeholder consultative processes, is trusted by companies and governments worldwide. The RMI and GRI share a commitment to the responsible sourcing of minerals from conflict-affected and high-risk areas, and have been collaborating on related research since January for the first phase of this new project. (…)
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