Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • fx
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home

    EU Deal Only Covers a Fraction of Conflict Minerals

    npsBy nps21 June 2016Updated:27 June 2024 No Comments2 Mins Read
    — Filed under: Focus
    Share
    Facebook Twitter LinkedIn Pinterest Email

    — last modified 21 June 2016

    In a new report, Swedwatch presents the practical implications of existing regulations on conflict minerals and concludes that EU negotiations have failed to address key issues related to the trade in illicit conflict minerals.

    – The EU agreement is a welcome step in the right direction. But it applies only to a fraction of minerals  that end up on the EU  market, due to the exemption of downstream actors,  says Théo Jaekel, author of the report at Swedwatch.

    Products that are used everyday, such as mobile phones, laptops and light bulbs, contain minerals extracted, to a large extent, in conflict-affected areas where  armed groups use the illicit trade of minerals to finance continued conflict.

    Companies listed on the U.S. stock exchange are required to conduct supply chain due diligence of conflict minerals, in case their products  contain such minerals. The OECD has also adopted a due diligence guidance. The EU has reached an agreement on new legislation requiring upstream companies, i.e. smelters/refineries, to conduct due diligence in cases where they source tin, tantalum, tungsten, or gold.

    The Swedwatch report “Far from Reality” provides an analysis of the implications of existing regulations, with the Democratic Republic of Congo (DRC) as an example.  The report concludes that the EU agreement falls short of international standards, and should instead build on the OECD Guidance ? which also includes downstream actors, i.e. electronics and automotive companies. The report criticizes EU’s  position that doing so would impose unreasonable burdens on downstream actors.

    – As opposed to the deal reached by the EU, the OECD Guidance includes provisions covering the entire supply chain of  minerals. But the provisions are adapted to the size and capacity of a company and therefore provide much needed flexibility, says Théo Jaekel.

    Swedwatch recommends that the EU Member States implement more far-reaching requirements on their companies, in order to cover both upstream and downstream actors. Likewise, companies themselves, whose products contain conflict minerals, should rather adhere to the OECD Guidance.

    Swedwatch

    Add A Comment

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    EU approves EUR 300m for common defence procurement projects

    EU proposes e-declaration for the posting of workers

    EU calls on Apple to end geo-blocking on media services

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    EU artificial intelligence factories set for 2025

    Council agrees reform of EU VAT rules for the digital age

    LATEST EU NEWS

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    EU artificial intelligence factories set for 2025

    13 November 2024
    BRIEFING

    Agenda

    This week, COP29 begins in Azerbaijan; finance ministers discuss the EU's annual budget for 2025; and MEPs hold a plenary session on EU-US relations, EU summits, deforestation and COP 29...

    EUbusiness Week

    This week competitiveness and environment ministers will hold informal meetings…

    Eurozone Economic Calendar

    Key economic calendar events for the week 11 to 16 November 2024

    The Week's Top Stories

    This week competitiveness and environment ministers will hold informal meetings…

    Advertisement

    Subscribe to EUbusiness Week

    Get the latest EU news

    Latest Posts

    EU approves EUR 300m for common defence procurement projects

    14 November 2024

    EU proposes e-declaration for the posting of workers

    14 November 2024

    EU calls on Apple to end geo-blocking on media services

    14 November 2024

    EUR/USD touches one year low as Trump takes control of Congress – Euro currency news daily

    14 November 2024

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Tems
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025
    Design and developed by : Dotsquares

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Lost password?

    Register Now!

    Already registered? Login.

    A password will be e-mailed to you.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok