What’s the big deal? Tracking and eliminating the use of conflict minerals can’t be that hard, right? Wrong! Conflict Minerals: It’s more than an SEC requirement. While it may seem easy to make sure your company isn’t using minerals from mines in areas of conflict, the hard part is making sure your contractors – your supply chains – aren’t purchasing in these areas.
But wait, what are conflict minerals? Conflict minerals are defined as any minerals mined to finance conflict in the Democratic Republic of the Congo, or other surrounding countries. Miners of conflict minerals are hired by gun point, life threats, forced physically, or they conform out of fear. Working conditions are far from safe and frequently result in death. The armed groups in the Congo are making all the profit, while the miners who risk their lives everyday are making far below what’s needed to live with minimal comfort.
Thankfully, something is finally being done to slowly decrease the horrors in the DRC. The Dodd-Frank Consumer Protection Act was signed by President Obama in 2010 to address the trade and use of these minerals. The US Securities and Exchange Commission requires businesses to report up their supply chains on its use of conflict minerals. So far, the act has successfully reduced revenue to militias by 65%. This will also contribute to the later elimination of conflict minerals in products.
Just about everyone should be concerned with conflict minerals because just about everyone has to report on them. So, why aren’t more companies jumping on the conflict minerals reporting bandwagon? Many simply don’t know where to start. With the right team and software, it is possible toreport on conflict minerals without fatigue. At CSRware, our Conflict Minerals Managementsoftware is a simple way of keeping track of data in a single online dashboard. The software offers a very simple distribution methodology allowing you to send assessments, manage email distribution with one-click, analyze results to address potential risk, drive corrective actions, and ensure compliance. So, you see, with CSRware’s software the hard part is eliminated and survey fatigues goes away.
With the May 31 deadline in our rearview, tell us about your conflict minerals reporting experience. Was it a piece of cake? Or did you experience fatigue? What would you like to do differently next year? How can CSRware help?
To learn more about CSRware’s Conflict Minerals Management software visit the link below: