Recently, the China Chamber of Commerce for Import and Export of Minerals and Chemical Industry launched the "Responsibility Cobalt Industry Initiative". The initiative has received strong support from the Organization for Economic Cooperation and Development (OECD). At present, many enterprises in the supply chain are actively joining the initiative to take joint action to promote the reduction of social and environmental risks in the cobalt supply chain. The initiative will give priority to addressing the worst forms of child labour.
At present, the enterprises involved in the initiative include Apple, Zhejiang Huayou Cobalt Industry Co., Ltd., Huawei Terminal Co., Ltd., Beijing Dangsheng Materials Technology Co., Ltd., Hewlett-Packard, Sony Co., L&F, Samsung SDI, Tianjin Bamo Technology Co., Ltd. Members of the Initiative will work together, coordinated by the Government of the Congo (DRC), to develop and implement action plans for the next 12 months.
OECD actively participates in the initiative, using a wide network of stakeholders formed in its responsible mining implementation projects, according to the relevant heads of the Minmetals Chamber of Commerce. The Minmetals Chamber of Commerce and OECD will continue to actively engage with a wide range of stakeholders and explore cooperation.
The Responsibility Cobalt Initiative has three main objectives:
Firstly, the upstream and downstream enterprises participating in the initiative agree with the Guidelines for Responsible Mineral Supply Chain Management in China and the OECD Guidelines for Mineral Due diligence Survey in Conflict-Affected and High-Risk Areas to ensure that supply chain policies are consistent with the requirements of the Guidelines, and gradually improve supply chain transparency and supply chain governance capabilities.
Secondly, we will promote cooperation with the Congolese government, civil society organizations and affected local communities to take action and/or support related actions to address and resolve risks and challenges in the cobalt supply chain.
Thirdly, a common communication and communication strategy should be established to effectively communicate the progress and results of the work to the affected communities, mining enterprises and the public, and to coordinate with other stakeholders on the objectives and plans of the work.
The person in charge said that the Minmetals Chamber of Commerce would actively build a platform for the initiative of the responsible cobalt industry, calling on the upstream and downstream participants of the cobalt value chain to face challenges, take responsibility and take joint action, and ultimately achieve win-win situation.
(Source: International Business Bulletin, 25 November)