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Apple Supplier Policy Change Addresses Child Labor & Poor Working Conditions

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Jen817
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Stock Keeper
Re: Landscaping Danbury CT
Jen817   4/3/2017 8:12:57 PM
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Glad to see Apple is changing their policies up, finally.

Pablo Valerio
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Blogger
It is about regulations
Pablo Valerio   3/29/2017 3:41:34 PM
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@Susan,

While I do believe that sometimes Apple, and others, want to do the right thing I believe, in this case, it is about stricter rules of "Conflict Minerals" compliance.

Since 2012, under the Dodd-Frank Act, all public companies have to report to the SEC any business with smelters or distributors selling certain minerals from that area.

Section 1502 of the Act clearly states the requirement:

"Section 1502 requires persons to disclose annually whether any conflict minerals that are necessary to the functionality or production of a product of the person, as defined in the provision, originated in the Democratic Republic of the Congo or an adjoining country and, if so, to provide a report describing, among other matters, the measures taken to exercise due diligence on the source and chain of custody of those minerals, which must include an independent private sector audit of the report that is certified by the person filing the report."

The EU parliament has recently passed similar legislation. By Jan. 1st 2021 it will be forbidden to import to the EU any product or component contaning conflict minerals from those areas, and many others, including any stocks created after March 2013.

So, I believe Apple is doing the right thing, but for many other reasons.



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