There are several free-to-use information services that provide guidance on how to comply with the EU’s "conflict minerals’ regulation". The official guidance, launched on 20 November 2019 by the European Commission, is called due diligence ready!
Due diligence ready! is dedicated to small and medium-sized enterprises (SMEs) with minerals and metals in their supply chain, focusing on, but not limited to, tin, tantalum, tungsten and gold. It helps SMEs perform due diligence effectively and ensure they can source responsibly. For those impacted by regulatory requirements, for example by the EU’s ‘conflict minerals’ regulation’ , the initiative will help them comply with their legal obligations.
Via the due diligence ready! online portal, you can access information, tools and training materials to guide you through conducting your due diligence.
Mineral and metal resources hold great potential for development but can, in some regions, fuel violence, human rights abuses and have negative environmental impacts. Consequently, customers, suppliers, regulators, investors, non-governmental organisations (NGOs) and end-consumers are increasingly asking companies, including SMEs, to demonstrate that minerals and metals entering their supply chains have not contributed to harming people or the environment. Due diligence ready! was developed to best support you in responding to these requests.
Due diligence ready! contains:
· A series of educational webinars, breaking down key concepts
· ‘Frequently Asked Questions’
· A glossary of terms
· A toolbox of useful resources related to due diligence
Due diligence ready! makes conducting due diligence on minerals and metals supply chains straightforward, efficient and effective, and helps ensure you can meet the new expectations from your customers and regulators to demonstrate responsible sourcing. The main initiative in this regard is the EU’s ‘conflict minerals’ regulation’ , effective on 1 January 2021. It sets out supply chain due diligence requirements for EU importers of tin, tantalum and tungsten and gold.
The T.I.C. encourages you to prepare early for potential impacts on your business by using the due diligence ready! portal now. This will place you in a stronger position to meet regulatory requirements and market demand for responsible sourcing and will allow you to contribute to positive development in the minerals and metals sector.
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