Thousands of automotive, electronics and manufacturing companies were required by law to file a conflict minerals report with the US Securities and Exchange Commission by May 31 — but the bulk of those companies likely missed the deadline.
A March survey by the Automotive Industry Action Group (AIAG) of more than 550 professionals working on corporate responsibility (CR) in automotive, manufacturing, and other industries in 40 countries identified conflict minerals as the most significant issue facing the automotive industry this year.
About half of companies polled have a policy on conflict minerals reporting — yet only half of those companies with a policy said they would meet the May 31 deadline. The survey also found that AIAG member companies are more likely to have a conflict minerals policy, and more likely to meet the reporting deadline.
In response to the survey results, AIAG has launched a conflict minerals awareness campaign to accelerate industry action on the issue.
“The auto industry needs to keep working on the 2014 reports due in just over a year from now,” says Tanya Bolden, corporate responsibility program development manager at AIAG.
In the years ahead, AIAG says it will continue to expand its conflict minerals initiative. In 2014 and 2015, AIAG is focusing on accelerating the development of the sub-tier supply base.