News Archives » conflict minerals
Oblate JPIC Applauds Court Decision to Uphold Congo Minerals Disclosure August 13th, 2013
On July 23, the DC District Court ruled in favor of the Securities and Exchange Commission’s (SEC) rules which upheld section 1502 of the Dodd–Frank Wall Street Reform and Consumer Protection Act against the National Association of Manufacturers, Chamber of Commerce and the Business Roundtable. Section 1502 requires companies registered with the SEC to carry out due diligence and to disclose whether or not their products contain conflict minerals from the Democratic Republic of the Congo (DRC) and adjacent countries. The Missionary Oblates JPIC office applauds this decision as a victory for the people of the Democratic Republic of Congo. For more information, read the investor’s letter (download PDF) or visit www.iccr.org.
Credit: Image from the Puget Sound Business Journal (http://www.bizjournals.com/seattle/news/2012/10/11/new-sec-rule-forces-manufacturers-to.html)
Investors Support Conflict Mineral Rule June 3rd, 2013
The Missionary Oblates JPIC office has joined other investors in supporting a U.S. law aimed at preventing trade in conflict minerals from the Democratic Republic of Congo. The investors statement supporting the final rule by the SEC on Section 1502 of the Dodd-Frank legislation says, “Given that the long standing conflict in the Democratic Republic of Congo (DRC) has claimed more than five million lives and contributed to egregious human rights abuses such as rape, child soldiers, and slave labor, we believe companies must disclose their use of conflict minerals.”
Some manufacturers and business associations have sued the Securities and Exchange Commission (SEC) on the Section 1502 rule.
Oblates Join Multi-Stakeholder Group Opposing Industry Challenge to Conflict Minerals Rule November 19th, 2012
The organizations in the MSG consist of faith based investors, asset management groups, large corporations, and NGOs. The objective is to reiterate the commitment to eliminating the link between violence and human rights abuses in the Democratic Republic of the Congo, in the face of the petition recently filed by three trade associations in Washington, DC.
The MSG agrees that an important part of the solution to ending violence in the region is a responsible mineral sourcing process, and pledges to continue to work toward this goal.
Multi-stakeholder statement here.
UN Update: Fall 2012 November 18th, 2012
In 2000 the United Nations agreed on eight Millennium Development Goals (MDGs) to address the needs of the worlds poorest by 2015. While efforts to achieve the original MDGs continue, the UN has launched a global conversation to determine steps after 2015. An Inter-Governmental Working Group is preparing Sustainable Development Goals, and a High Level Panel of twenty-six members of government, civil society and the private sector is working on a Post-2015 Development Agenda. Beyond2015, a coalition of 400+ organizations, is also addressing this issue. UN Agencies are leading nine thematic consultations and more than fifty national discussions. Countries participating in consultations include Brazil, Peru, Congo, Kenya, Nigeria, and South Africa; plans are in place to add more countries to the list. For an overview of the entire Post-2015 process, go to www.beyond2015.org (in English, French, and Spanish).
There is a good opportunity for participation in a collaborative effort between the United Nations and civil society: The World We Want Campaign invites people around the world to share their visions for the post-2015 world. Materials are accessible in multiple languages.
Go to www.worldwewant2015.org/ and click on your language.
TAKING THE CONFLICT OUT OF CONFLICT MINERALS: HOPE FOR CONGO
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New SEC Rules to Reduce the Use of Conflict Minerals August 29th, 2012
The Missionary Oblate JPIC Office applauds the final rules adopted by the Securities and Exchange Commission (SEC) to restrict the use of Congo conflict minerals and increase transparency in extractives-related payments.
On August 22, the Securities and Exchange Commission, in a 3-2 vote, adopted a rule requiring public companies to disclose information about their use of minerals from the Democratic Republic of Congo where militias linked to atrocities have profited from mining minerals. Conflict minerals mined in war-torn Congo are essential to the manufacture of high-tech electronics, jewelry and other goods. The rule is know as Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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The state of Maryland has taken a definitive step toward curtailing the use and trade of conflict minerals from the Democratic Republic of Congo (DRC). On May 2, Governor Martin O’Malley signed the Maryland State Procurement and Congo Conflict Minerals Bill into law. Maryland is now the second state to adopt such legislation, following California’s example in September 2011. A similar bill is under consideration in Massachusetts.
Under the Maryland State Procurement and Congo Conflict law, the State of Maryland is prohibited from doing business with companies that do not comply with federal disclosure requirements on conflict minerals. Section 1502 of the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 is a disclosure requirement that calls on companies to determine whether their products contain conflict minerals by carrying out supply chain due diligence and to report this to the Securities and Exchange Commission.
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