UL Launches Conflict Minerals Platform to Meet Reporting Requirements
Most corporations struggling to meet the Dodd-Frank Section 1502 reporting requirements still don’t know if their products contain conflict minerals or not, UL says. The opacity of complex global supply chains can easily obscure the source of minerals and other raw materials, and hide all kinds of surprises.
Dodd-Frank requires affected companies to verify all impacted raw materials are coming from ethical sources. However, a supply chain may have thousands of first-tier suppliers, with tens of thousands more behind them. Tracing raw materials back to their source is daunting, labor-intensive and time-consuming.
Some specific capabilities of the WERCSmart Conflict Minerals Platform include:
- An SaaS platform that delivers real-time product-attribute intelligence.
- Database and decision-support tools for collecting and reporting on information from suppliers, and making smarter decisions about sourcing.
- Assessment tools for vetting products, investigating sources, and monitoring sustainability performance improvement across the supply chain.
- Program development and advisory services help companies design and implement due-diligence practices for sourcing raw materials and comply with traceability requirements.
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