conflict minerals regulation us

The EU Conflict Minerals Regulation - Frequently Asked Questions and Take-Aways for Downstream Companies (or Why Should I Care About Yet Another New Supply Chain Regulation?) In its resolutions of 7 October 2010, of 8 March 2011, of 5 July 2011 and of 26 February 2014, the European Parliament called for the Union to legislate along the lines of the US law on conflict minerals, Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. SEC estimated in their proposed rules that 6,000 companies are potentially subject to the regulation . Based on the information accompanying the public consultation, it is clear that the EU initiative may draw on the 2010 conflict minerals regulations in the United States as well as the 2011 Organisation for Economic Co-operation and Development (OECD) guidance related to conflict minerals. AutoGen CM is an automation software that simplifies the Conflict Minerals Reporting process. The EU's new conflict minerals Regulation ( EU 2017/821) is due to come into force on 1 January 2021, almost four years after the text of the legislation was published in May 2017. The regulation also draws on well-established rules to help stem the trade in conflict minerals. United States (US): Financial Reform and Congo Conflict Minerals Reporting, House Bill 4173 Enacted, 2010; China: Due Diligence for Responsible Mineral Supply Chains, Guidelines . The SEC rules define conflict minerals as 3TG metals, wherever extracted. To ensure businesses are sourcing conflict-free minerals, there are two main regulations in place: US Dodd-Frank 1502 and EU Conflict Minerals. As the leading solution provider for Conflict Minerals compliance, we closely monitored the evolution of Dodd-Frank 1502 and EU Conflict Minerals legislation and have prepared an industry-leading Conflict Minerals compliance solution. Last month, the US Securities and Exchange Commission (SEC), responsible for regulating capital markets, ruled in favour of laws prohibiting the use of "conflict minerals". contain conflict minerals that directly or indirectly finance or benefit armed groups in the Democratic Republic of the Congo or an adjoining country. The Conflict Minerals Regulation will affect the trade and production of tin, tantalum, tungsten, and gold in as well as outside the EU. " Unintended Consequences of Sanctions for Human Rights: Conflict Minerals and Infant Mortality." Journal of Law & Economics 59(4): 731-774. Amongst the various initiatives taken by the EU, this one is extremely critical as it addresses the persistent issue of reducing mineral sourcing from politically unstable countries. the "conflict minerals" provisioncommonly known as section 1502 of the dodd frank act requires u.s. publicly-listed companies to check their supply chains for tin, tungsten, tantalum and gold, if they might originate in congo or its neighbours, take steps to address any risks they find, and to report on their efforts every year to the u.s. It regulates trade in minerals - in particular tin, tantalum, tungsten and gold (3TG) - that have been extracted from mines in politically unstable or conflict-affected areas. Key compliance checks such as sanity check,cross-referencing between 3TG and Smelter Details are completed within minutes. A Conflict Minerals Regulation That Works (February 2015) [EN] The European Commission agreed to act, but the proposed law would have been entirely voluntary and apply only to a handful of companies.

Conflict minerals are resources that are mined and used to influence and finance armed conflict, human rights abuses, and violence. In 2017, the EU adopted its conflict minerals regulation, which is intended to help businesses identify and address the risk that 3TGs in their products are linked to adverse impacts in conflict-affected or high-risk areas around the world. The SEC's 2012 rule applies to companies publicly traded in the United States that use gold, tin, tantalum, or tungstenknown as the four conflict mineralsfrom the DRC and surrounding countries. Additionally, starting January 2021, a new law will apply across the EU - the 'Conflict Minerals Regulation' by OECD, to check if the imports into EU are from a . In 2010, Congress passed the Dodd-Frank Act, which directs the Commission to issue rules requiring certain companies to disclose their use of conflict minerals if those minerals are "necessary to the functionality or production of a product" manufactured by those companies. Standardized reporting process. Ostensibly, the new Regulation aims to boost corporate transparency and encourage companies to embrace a more sustainable approach to sourcing four key metals . The consultation is open until 26 June 2013. The United States and the European Union require due diligence to be reported on 3TG in your supply chain. Parker, Dominic P., Jeremy Foltz, and David Elsea. . Software not only saves significant time and cost but also greatly improves the accuracy of the data. This regulation requires EU importers of these metals and minerals (Gold, Tungsten . The situation in the EU. The Regulation was originally published in 2017 and applies to importers of "conflict minerals": tantalum, tin, tungsten and gold. From 1 January 2021, the Conflict Minerals Regulation will enter into force. By now, each European Union (EU) Member State should have completed the implementation of the Regulation at national level. How this will impact different market participants will be explained here. The EU's Conflict Minerals Regulation to impact supply chains for trade of the 3TG. As a public company, Astronics Corporation is required to comply with Section 1502 of the United States Dodd-Frank Wall Street Reform . The European Conflict Minerals Regulation entered into full force on January 1, 2021, following its approval in 2017. This article discusses and contextualizes the EU Conflict Minerals Regulation for the electronics sector. . US Regulation of Conflict Minerals and Violence in the Congo." Journal of the Association of Environmental and Resource Economists 4(1): 1-49. iPoint Conflict Minerals is a cloud-based software solution that enables companies to address the challenge of collecting, managing, aggregating and reporting on conflict minerals and meeting the requirements of their customers and regulatory authorities. . In its communications of 2 February 2011 entitled 'Tackling . This policy note offers a comparison The Dodd-Frank Act also requires the GAO to assess the effectiveness of the SEC regulations each year. Potentially Broader Geographic Scope: Compared with the U.S. approach, the EU regulation may cover conflict minerals from a different and more expansive geographic area. The new Conflict Minerals Regulation (EU 2017/821) that took effect on January 1, 2021, obliges EU importers to ensure that 3TG metals are sourced from conflict-free regions. The sub-clauses further require companies to: conduct an assessment to define whether the mining project from which traded minerals originate or the mineral trading routes . Commentary: EU conflict minerals regulation falls short of existing standards and US Dodd-Frank Act. EU Commission launched a public consultationregarding the development of conflict minerals regulations. The Conflict Minerals Statutory Provision requires us to promulgate regulations requiring that any "person described" disclose annually whether conflict minerals that are "necessary" originated in the Covered Countries and, if so, submit to us a Conflict Minerals Report. Several large NGOs and brands consider Cobalt a conflict mineral . However . " Unintended Consequences of Sanctions for Human Rights: Conflict Minerals and Infant Mortality." Journal of Law & Economics 59(4): 731-774. Their best practices serve as examples for other Member States and their competent authorities to enhance . Conflict minerals are resources that are mined and used to influence and finance armed conflict, human rights abuses, and violence. Examples of these include: Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act; European Union Conflict Minerals Regulation; Massachusetts, Maryland and California state-level . 4173) and the recent EU legislation aim to prevent the trade in "Conflict Minerals" from the Democratic Republic of Congo. EU Conflict Minerals Regulation EU Parliament and Council adopted the "EU Conflict Minerals Regulation" EU2017/821 on 17 May 2017. Profits from extracting conflict minerals are used to purchase weapons and pay combatants. That legislation failed to pass, but a revised version was passed as Section 1502 of the Dodd-Frank Act. NEW REPORT SHOWS DIVERGING IMPLEMENTATION AT EU MEMBER STATES' LEVEL. In coming years, we may see the US align their conflict minerals regulations with the EU's new regulations that were instituted on January 1, 2021. Tungsten, tantalum and cobalt are not intentionally used in SCHURTER components. Conflict Minerals Regulation On August 22, 2012, the final rule regarding sourcing of conflict minerals under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("the Dodd-Frank Act") was approved by the U.S. Securities and Exchange Commission ("SEC"). 2017/821 - which aims to control the trade in tin, tantalum, tungsten and gold (3TG). By now, each European Union (EU) Member State should have completed . Since the legislation alone is not enough to make a real change 'on the ground', the EPRM is supporting mine sites in CAHRAs. See all tags See all tags Mining. Additionally, starting January 2021, a new law will apply across the EU - the 'Conflict Minerals Regulation' by OECD, to check if the imports into EU are from a . As of January 1st 2021, a new law - the Conflict Minerals regulation, will be applicable across the European Union (EU).

On January 1 st 2021, a new EU regulation for four conflict minerals came into effect. There is some overlap between the regulations, as all are informed to some extent by the OECD guidance. Clause 2.4.6 requires companies to "conduct risk-based supply chain due diligence in order to prevent engagement with materials that may have funded or fueled conflict". In July 2010, the United States enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act"), of which Section 1502 includes provisions that require manufacturers to perform due diligence in their supply chains to identify and disclose whether the use of any 1 "Conflict Minerals" is necessary to the functionality of its products, and whether those Conflict Minerals . While electrical equipment manufacturers that place products on the EU market are not specifically targeted under the Regulation, the law applies to them if their operations involve importing conflict-implicated metals and minerals into the EU (e.g., for use in manufacturing their products). United States government regulations require that companies that register with the Securities and Exchange Commission (SEC) report whether their products incorporate any "conflict minerals". Section 1502 of the Dodd Frank Act, otherwise known as the US Conflict Minerals Rule, came into effect in 2014 and wholly focused on stemming the flow of conflict-tied 3TG minerals from the Great . Based on the information accompanying the public consultation, it is clear that the EU initiative may draw on the 2010 conflict minerals regulations in the United States as well as the 2011 . Their best practices serve as examples for other Member States and their competent authorities to enhance . The Dodd-Frank Act originally known as Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by the US Senate on May 20, 2010 and signed by President Barack Obama on July 21, 2010. 8 Section 1502 is designed to discourage major manufacturing and processing companies from using conflict . "Conflict minerals" are defined as tantalum, tin, tungsten, and gold. The term conflict minerals, as defined by the EU Conflict Minerals Regulation, refers to the extraction of minerals that support, prolong, and cause conflicts in their originating countries. The regulation requires all importers to the EU of any of these four elements in quantities of over 1000 kg per . The EU regulation covers tin, tantalum, tungsten and gold because these are the four minerals that are most often linked to armed-conflicts and related human rights abuses, so it makes sense to focus on them. If so, such public companies . This regulation could leverage the overall due diligence of upstream and downstream industries on raw material sourcing. The European Conflict Minerals Regulation entered into full force on January 1, 2021, following its approval in 2017. In 2010, the US Congress passed the 'Dodd-Frank Act', with rules requiring SEC-listed companies to disclose whether they use conflict minerals in their products. The most notable precursor to the EU Conflict Minerals Regulation is Section 1502 of the US' Dodd-Frank Wall Street Reform and Consumer Protection Act, better known as Dodd-Frank Act. Conflict Minerals refers to four raw materials; columbite-tantalite, also known as coltan (from which tantalum is derived), cassiterite (tin), gold, wolframite (tungsten), or their derivatives. Expected Draft End of 2013 2016. large or small or located in the United States, the European Union or elsewhere. However, the EU Conflict Minerals Regulation (EU 2017/821) expands upon the U.S. act by broadening the scope beyond the DRC to conflict-affected and high-risk areas (CAHRAs). The regulation targets the human rights practices of armed . So the EU passed a new regulation in May 2017 to stop: conflict minerals and metals from being exported to the EU; global and EU smelters and refiners from using conflict minerals Answer: The scope of the EU conflict minerals regulation will apply to the various forms of 3TGs as imported and not if they are part of downstream products (like fasteners). The Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. This regulation imposes supply chain reporting obligations on EU. In 2017, the European Parliament approved a Regulation laying down due diligence obligations for European importers of minerals and ores of tin, tungsten, tantalum and gold (3TG).Responding to calls from civil society groups, communities and faith leaders, the Regulation was an attempt to disrupt the link between conflict . Global Witness defines conflict resources as "natural resources whose systematic exploitation and trade in a context of conflict contribute to, benefit from or result in the commission of serious violations of human rights, violations of international . Members of Congress introduced legislation that would have repealed Section 1502 of Dodd-Frank,. The current list of "conflict mineral" includes gold, tantalum, tin and tungsten. As required by the Dodd-Frank Wall Street Reform Act, the U.S. Securities and Exchange Commission has required publicly traded companies to disclose whether they use "conflict minerals" (tantalum, tin, gold and tungsten, or "3TG") that have originated in the Democratic Republic of the Congo or adjoining countries. Could cobalt be added to the definition of "conflict minerals" under the SEC's conflict . The EU's import directive, Conflict Minerals Regulation (2017/821), went into effect in January 2021. Astronics will comply with all applicable Conflict Minerals Regulations, including the US Securities and Exchange Commission's Conflict Minerals Rule and the European Union's Conflict Minerals Regulation.

January 1st, 2021 won't just be the beginning . Global Conflict Mineral Regulations. There are various regulations that require in-scope companies to report on their use of conflict minerals. The initial provisions of Regulation (EU) 2017/821 of the European Parliament and of the Council laying down supply chain due diligence obligations for Union importers of tin, tantalum and tungsten, their ores, and gold originating from conflict-affected and high-risk areas (the "EU Conflict Minerals Regulation") took effect in 2017. Conflict Minerals Policy . Under the Act, those minerals include tantalum, tin, gold or tungsten. The EPRM is an accompanying measure to the EU Conflict Minerals Regulation. On January 1st 2021 a new law came into full force across the EU - the Conflict Minerals Regulation (EU) No. 2017/821 - which aims to control the trade in tin, tantalum, tungsten and gold (3TG). 2 Our initial thoughts are below. The specific nomenclature defining the customs codes for which imports are in scope are captured in Annex I of the Regulation. as of 1 January 2021), EU-based importers of certain minerals and metals will have to comply with new supply chain due diligence obligations that will become . The European Conflict Minerals Regulation entered into full force on January 1, 2021, following its approval in 2017. In response, a group of NGOs, including Global Witness, made the case for a strong and binding law that would cover the whole supply chain, from . GENESIS EU CONFLICT MINERALS REGULATION After the US Senate passed the Dodd-Frank Act, pressure on the EU to address the issue of DRC con-flict minerals mounted. In addition . For example, tin extracted in Canada, Russia or Argentina is considered a conflict mineral by definition. The New EU Conflict Minerals Regulation. Publicly traded companies in the U.S. are required to submit a conflict minerals disclosure under Dodd-Frank Section 1502. If nothing else, this report demonstrates that the push for conflict minerals supply chain transparency can pivot to increased attention on child labor and worker safety in mining operations, which are also serious concerns in the mining of 3TG. If these are used, it is further required that . The EPRM is a multi-stakeholder partnership with the objective to increase the proportion of responsibly produced minerals from conflict . The EU regulation covers tin, tantalum, tungsten and gold because these are the four minerals that are most often linked to armed-conflicts and related human rights abuses. section 1502 of the dodd-frank act amends the securities exchange act of 1934 to add section 13 (p), which directs the commission to issue rules requiring certain companies to disclose their use of "conflict minerals" if those minerals are "necessary to the functionality or production of a product" manufactured by those companies or contracted by The EU Conflict Minerals Regulation takes effect on January 1, 2021. The three main pieces of conflict minerals regulation in the world today are the US' Dodd-Frank Act; the EU's Conflict Minerals Regulation; and China's Conflict Mineral Standard. allowing us to identify who the frontrunners are. 1.2. The EU Conflict Minerals regulation means that selected EU importers of the respective minerals (also referred to as '3TG') need to comply with, and report on, supply chain due diligence obligations if the minerals originate (even potentially) from conflict-affected and high-risk areas. Conflict Mineral Reporting in the EU . Rather than prohibiting gold imports from certain areas, the Regulation requires companies importing conflict minerals into the EU to . The Trump Administration signaled that rules like the US conflict minerals rule might be eliminated. These so-called 'conflict minerals', such as tin, tantalum, tungsten and gold, can find their way into our mobile phones, cars and jewellery. The domestic regulations apply to companies in Northern Ireland that import significant volumes of tin, tungsten, tantalum and gold or so called, 'conflict minerals'. Global Witness defines conflict resources as "natural resources whose systematic exploitation and trade in a context of conflict contribute to, benefit from or result in the commission of serious violations of human rights, violations of international . European Parliament calling on European Commission to consider a proposal on conflict minerals reporting; initiative may be broader than 3TG from Central Africa. The US could also see other changes in conflict minerals regulations, especially as the European Union (EU) increases the scope and requirements of their regulations. These so-called 'conflict minerals', such as tin, tantalum, tungsten and gold, can find their way into our mobile phones, cars and jewellery. As noted earlier, the Regulation does not take effect until 2021. The due diligence and disclosure obligations of the EU regulation commence on January 1, 2021. Businesses importing over . Ensure compliance with evolving conflict mineral regulations. . The U.S. rule applies to a defined set of "Covered Countries," which includes the DRC, Angola, Burundi, Central African Republic, Rwanda, Republic of the Congo, South Sudan . 2 May 2021. The regulation was previously approved by the EU Parliament and follows on the November 22, 2016 political agreement reached by the Parliament and the Council. The United States' first attempt to regulate conflict minerals was in April 2009 with the proposed Congo Conflict Minerals Act. Conflict minerals regulations were enacted in response to ongoing armed conflicts in regions that produce minerals used in the production of consumer products. In the SEC rule, "DRC conflict-free" is defined as minerals that were extracted and did not directly or indirectly benefit armed groups in the covered countries. Congo (the Democratic Republic of the) . The new regulations . Conflict Minerals Conflict Minerals Division for Counter Threat Finance and Sanctions The Office of Threat Finance Countermeasures, in conjunction with other State Department bureaus and U.S. agencies, actively works to sever the links between mineral resources and conflict through government-to-government diplomatic efforts. As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Conflict Minerals (T3&G) rule, the RoHS Directive 2011/65/EU as amended by (EU) 2015/863, and Article 59 of the European (REACH) Regulation of the presence of Substances of Very High Concern (SVHC) and the EPA's PBT and PFAS Chemicals (TSCA), Hallite requires . The EU conflict minerals regulation, which places mandatory obligations on importers of 3TG but not product manufacturers and sellers, takes effect on January 1, 2021. US Regulation of Conflict Minerals and Violence in the Congo." Journal of the Association of Environmental and Resource Economists 4(1): 1-49. . Passed in . allowing us to identify who the frontrunners are. . These both require different levels of tracing conflict minerals throughout the supply chain, gathering smelter data, and compiling reports. The EU drafted its own conflict minerals reporting regulation against the backdrop of the Dodd-Frank Act.

Results of the ISS ESG Corporate Rating reveal . While the US rules are limited to minerals sourced from DRC and contiguous countries, the EU rules cover all countries exporting 3TG minerals into the EU - an . This reform establishes conflict minerals reporting requirements and instructions for companies, especially in the electronic and automotive industry . They then sell those minerals to fund their activities, for example to buy weapons. In July 2010, the United States Congress signed into law the Dodd-Frank Wall Street Regulation and Consumer Protection Act containing a section that regulates conflict minerals. Parker, Dominic P., Jeremy Foltz, and David Elsea. The EU Regulation generally will require importers of tin, tantalum, tungsten and gold ("3TG" or "conflict minerals") into the European Union to establish management systems to support due diligence, conduct due diligence and make disclosures concerning the 3TG that . Thus, SCHURTER is affected by regulations of these minerals. Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, known as the US Conflict Minerals Law, mandates supply chain traceability for publicly traded companies that use, make or sell products with "Conflict . By now, each European Union (EU) Member State should have completed . 2016. In 2010, the US Congress passed the 'Dodd-Frank Act', with rules requiring SEC-listed companies to disclose whether they use conflict minerals in their products.

In less than six months (i.e. Update on EU and UK Conflict Minerals Regulations 2 May 2021 The situation in the EU On January 1st 2021 a new law came into full force across the EU - the Conflict Minerals Regulation (EU) No. Conflict Minerals Regulation In politically unstable areas, armed groups often use forced labour to mine minerals.

 

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