UPDATE: OECD Releases New Version of Due Diligence Guidance

UPDATE: OECD Releases New Version of Due Diligence Guidance

The Organisation for Economic Co-operation and Development (OECD) has released an updated edition of their OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.

This update clarifies the language used in the previous edition’s introduction. The purpose of the framework is to provide guidance for due diligence as the foundation of responsible supply chain management. The new language states all conflict minerals are in scope of the framework, not just tin, tungsten, tantalum and gold (3TGs). The previous version implied the framework only applied to 3TGs.

How does the OECD Due Diligence Guidance update affect existing compliance programs? As the framework is updated for clarity, businesses are responsible for ensuring these updates are reflected in their compliance programs. Adapting conflict mineral compliance programs to reflect any significant changes to the OECD Guidance is important to align with other participants within the supply chain who may also be adopting these changes.

The developing European Union (EU) conflict mineral regulation’s due diligence guidelines are based on the updated OECD Guidance. Companies should be aware of the updated guidance in order to place themselves in a position to comply with the upcoming EU conflict mineral requirements.


If you have any questions about conflict mineral compliance, contact us at info@assentcompliance.com

Learn more about Assent’s conflict mineral compliance solution here.

For more information on regulations, compliance and conflict minerals, visit our blog.

 

 

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