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CARLSBAD, Calif., Aug. 17, 2017 /PRNewswire/ — Source Intelligence has released its annual analysis of conflict minerals reports for the 2016 reporting year and despite U.S. government efforts to relax requirements, companies continue to demonstrate increased efforts to minimize sourcing from conflict regions.
“Public-facing transparency is increasing for companies because of a global expansion of stakeholder scrutiny, regulation and consumer spending decisions,” said Jess Kraus, CEO of Source Intelligence, the world’s leading data collection and compliance solution. “Conflict minerals are becoming part of a company’s comprehensive sustainability and compliance programs due to continued external pressure on the topic.”
In its analysis (available for download here), Source Intelligence found that although the U.S. Securities and Exchange Commission (SEC) is relaxing Dodd-Frank rules, more companies continue to undertake significant effort to trace the source of their raw materials to avoid connections with war-torn areas and regions known for human rights violations.
“The due diligence set into motion when Dodd-Frank was enacted is benefitting many companies because they now face emerging compliance and transparency pressure in the European Union and other parts of the world,” Kraus said. “Many companies are taking advantage of advancements in technology, centralized validation databases and other resources to avoid brand risk.”
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Source Intelligence® (SI) is a data collection and compliance solution that makes it easy to get information and improve supplier relationships. SI’s cloud-based platform helps clients make informed decisions about business partners to offer products that meet legal, ethical, and environmental standards. The company’s information and analytics platform helps customers minimize operational and brand risk, and improve efficiency and communications. Founded in 2009 by career experts in environmental solutions and analytics, Source Intelligence® has headquarters in Carlsbad, California and operations worldwide. SI has received multiple awards, including the “2015 GRC Innovation Award” by analyst firm GRC 20/20, “Most Promising Supply Chain Tech Solution Provider for 2014 and 2015” by CIO Review and “2016 Product of the Year” by Environmental Leader. CEO Jess Kraus was named “CEO of the Year” by CIO Review. www.sourceintelligence.com
Lina Ramos, Chief Business Officer