Weakening of Dodd-Frank Act will not affect general trend towards responsible mineral sourcing, says RCS Global
“Stakeholder Update: Dodd-Frank 1502 Consultation”, 10 February 2017
While clearly significant, any changes to Dodd-Frank 1502 would not drastically affect the general direction of travel for responsible mineral sourcing…Many of the biggest players in the market are adhering to Dodd-Frank 1502 requirements through their implementation of the OECD Due Diligence Guidance, which…is being established as the global market entry standard for all minerals and metals from high-risk and conflict-affected areas. Persistent advocacy pressure and the opportunity for brands to differentiate their products by sourcing responsibly is a clear…trend…Industries…have also started to raise compliance standards even further through voluntary enhanced due diligence programmes…Currently legislative pressures are also not exclusively tied to Dodd-Frank 1502, as legislation at the EU level…and moves in China have all signalled…that the expectations on companies engaging in minerals and metals from high-risk and conflict-affected areas…has risen considerably. Any weakening of Dodd-Frank 1502 will not affect the general direction of travel which is going towards more transparency, responsibility and accountability throughout the minerals supply chain…