USA: 100 investors express continued support for conflict minerals due diligence requirement under Dodd Frank Act
As investors and investor groups with over $3.75 trillion in assets under management, we are writing to express our continued support for Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the U.S. Securities and Exchange Commission's Conflict Minerals Rule...The law has also been a catalyst for positive change in the region's mining sector, a vital step toward a more effective response by U.S. companies to address material risk in their supply chains, and has contributed to responsible economic development in the DRC...Conflict minerals disclosure is material to investors and has informed and improved investors' ability to: • Assess social (i.e., human rights) and reputational risks in a company's supply chain. • Assess a company's long-term mitigation of risks related to the supply of minerals, liability, and other material risks...Companies worldwide are under increasing scrutiny and regulation on conflict minerals from the DRC with the EU's Conflict Minerals Due Diligence which is mandatory for importers of conflict minerals and even some signals from China on possible regulation...supply chain due diligence is becoming a global norm for responsible sourcing...As sustainable and responsible investors, we look to the U.S. Administration and the SEC to continue their essential role in promoting responsible management and sourcing of raw materials...