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Responsible sourcing of minerals from conflict-affected areas - Embassy of Finland, Cairo : Current affairs : Ministry for Foreign Affairs News

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Press Releases, 3/20/2017 | Ministry for Foreign Affairs of Finland

Responsible sourcing of minerals from conflict-affected areas

Press release 52/2017
16 March 2017

The EU is creating a system for responsible sourcing of minerals originating in conflict-affected and high-risk areas. The system is based on the OECD’s Due Diligence Guidance for Responsible Supply Chains of Minerals. The system is an important step in monitoring responsible supply chains of minerals.

It applies to European - including Finnish - companies importing tin, tantalum, tungsten and gold from outside the EU. Products included in the system are listed at tariff heading level. The list includes mainly raw materials; consumer products are excluded. This is a balanced solution from the point of view of companies.

The OECD Guidance has been widely adopted by companies and various industries. The EU will also accept as equivalent other existing or new corporate social responsibility (CSR) systems that meet EU requirements.

The EU regulation requires, for instance, that companies assess risks in the supply chain and formulate a strategy to respond to specific risks. Companies must in certain situations carry out independent third-party audits and report on compliance with CSR principles. A national authority set up for the purpose will monitor compliance with the regulation.

The regulation will take effect for companies on 1 January 2021.

Inquiries: Marjut Akola, Director, Market Access Unit, tel. +358 295 351 105; Sara Ohls, Commercial Counsellor, tel. +358 295 351 130; Linda Piirto, Senior Adviser, Labour and Trade Department, Ministry of Economic Affairs and Employment, tel. tel. +358 295 047 028

The Foreign Ministry’s email addresses are in the format firstname.lastname@formin.fi

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