Name of Resource | Responsible Sourcing: London Metal Exchange Position Paper |
Type | Position paper |
Country / jurisdiction | Global |
Organization | London Metal Exchange |
Date of publishing | October 2018 |
Description | The London Metal Exchange is proposing that all of its brands undertake an assessment against the red flag indicators set out by the Organisation for Economic Co-operation and Development. Any brands where this assessment indicates a higher risk in respect of metal sourcing practices would be expected to undertake an audit against an industry standard which has been shown to incorporate the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, or an equivalent. Furthermore, and given the greater industry focus on two specific metals (cobalt and tin), the LME will expect all brands of these metals to undertake such an audit. It is not the intention of the LME to publish its own standard; rather, it will allow those producers requiring an audit to elect an existing standard which has been independently assessed as being consistent with the OECD Guidance. |
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