On May 31, 2016, over 1200 companies filed conflict mineral reports (CMRs) in accordance with Dodd-Frank Act Section 1502 (Conflict Minerals Rule.) Source Intelligence analysts mined and aggregated data points from the filings to provide key benchmarks and insights for companies to utilize in the next reporting cycle.
Source Intelligence also discovered key industry insights by looking at the reports submitted by top-revenue firms across eight industries. The industry categories are as follows: Apparel, Retail, Manufacturing, Electronics, Oil & Gas, Business Services, Telecommunications, and Bio-Medical.
Of the sample group of companies analyzed, Source Intelligence discovered the following key findings:
- 48% specified having conflict minerals working group and/or steering committee, usually cross-functional across several departments.
- 23% selected a point person or department to champion conflict minerals compliance efforts, such as a legal counsel or executive officer.
- In addition to the vast majority of companies having specified utilizing OECD reporting guidelines, 70% specified the use of a reporting template and/or smelter certification status of entities such as Conflict-Free Sourcing Initiative, Electronic Industry Citizenship Coalition, Global e-Sustainability Initiative, Responsible Jewelry Council and London Bullion Market Association.
- 15% of companies mentioned being members of industry associations, such as the Responsible Jewelry Council or Retail Industry Leaders Association.
Download Conflict Minerals Reporting. A Deeper Look Into RY2015 SEC Filings here.