Conflict Minerals Legislation and Your Company
Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the “Conflict Minerals Law,” requires publicly-traded US companies to disclose the sources of certain minerals in their products. The SEC has the responsibility to define the reporting and due diligence procedures. Manufacturers will be required to obtain an audit performed by an independent third party to verify their supply chain.
Because the regulation is under final reconciliation, it is clear that companies, both US-based and overseas, will require detailed knowledge about the composition of its products, the country of origin of conflict minerals, and the supply chain.
GreenSoft will do the following to help your company demonstrate due diligence:
- GreenSoft will contact your suppliers for a certificate of compliance and assist them in completing an EICC Conflict Minerals Reporting Template if necessary.
- If suppliers fail to provide any data, GreenSoft will recommend replacement suppliers that will provide a certificate stating compliance with Conflict Minerals regulations or disclosure in an EICC form.
- If suppliers use Conflict Minerals from the Democratic Republic of Congo and surrounding countries, GreenSoft will ask suppliers to disclose smelter/mine information.
Get more information about the solution here.