'For more information on Sector Roadmaps and Flagship Cases, please see RE-SOURCING Report (1): State-of-play: The International Responsible Sourcing Agenda.
EITI promotes the open and accountable management of oil, gas and mining industry resources. The standard requires countries and companies to disclose information along the extractive industry value chain, from the point of extraction, following revenues through the government, to how they ultimately benefit the public. EITI reports from individual member countries provide information on the licensing and contracting processes, fiscal and legal arrangements, revenue payments, locations of allocated revenues, and economic contributions.
The GRI reporting standard is commonly used within annual sustainability reports by a number of companies. It has been designed to report on the underlying question of ‘how an organization contributes, or aims to contribute in the future, to the improvement or deterioration of economic, environmental, and social conditions at the local, regional, or global level’. The reporting requirements and formats include a range of topics, some are mandatory and whilst others are encouraged.
The LME is introducing responsible sourcing requirements for all metals (by brand) for delivery through the exchange. The first reporting period for firms is set for 2021 with audits (where required) to be carried out by the end of 2023. The LME RS approach combines two principles: ethical responsibility and commercial interest, i.e. that it continues to provide a price discovery function that better reflects the value of responsibly sourced metal.
This Guidance has the underlying standard of a significant number of mineral certification schemes and audits, as well as of a number of companies’ corporate policies regarding mineral sourcing from Conflict-Affected and High Risk Areas (CAHRS). It provides structured and specific risk identification actions for a business to undertake as part of its RS practices and is considered by many to be the de facto standard for most RS due diligence templates. EU directives, including the one on EU Conflict Minerals and EU Non-Financial Reporting Directive also make reference to this document.
TSM has developed responsible mining principles for environmental aspects and comprehensive guidelines for largely Canadian mining companies. TSM publishes a classification of members’ responsible mining performance within Canada. The principles are binding for members’ activities in Canada but only voluntary for operations outside of Canada.
The 27 member companies commit to the 10 ICMM principles and very comprehensive guidelines for most environmental protection areas. Each member must conduct an annual third-party audit and publish its results. The ICMM guide to responsible sourcing, blends management strategy with information-collection strategies.
This project has received funding from the European Union's Horizon 2020 research and innovation program under Grant Agreement No. 869276