So the Year One deadline of conflict minerals compliance reporting has come and gone. What exactly have we learned about the process?
Source Intelligence, the supply chain transparency company that provides a SaaS platform to help customers make informed decisions about their business partners and suppliers, delves into public companies’ 2013 reports to answer that question in their latest report, “CONFLICT MINERALS YEAR IN REVIEW.”
Nearly 1,300 companies – 1,292, to be exact – filed their conflict minerals reports by the June 2, 2014 deadline, and the results, as parsed by SI, are at once surprising and not surprising.
For example, in the report you’ll find:
- The types of disclosure and type of smelter identification the reporting companies opted for – a vast majority of companies went the “Source Undeterminable” route (no surprise there), so what does that mean for future reporting?
- The key segments of suppliers that are critical to improving both the quantity and quality of conflict minerals data reporting in the future, among them “unresponsive suppliers,” “3TG suppliers with unknown sourcing,” and “3TG suppliers without smelter data”
- Breakdowns of which 3TG suppliers by sector reported either unknown sourcing or had no smelter reporting (hint: manufacturing was way up there)
- How to Plan Ahead – setting sights on when independent private sector audits (IPSA) will be required for all companies, and the Top 2 ways to prepare for 2015
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