Advertisement

Blog

Industry Still Unprepared for Conflict Minerals Reporting

A little more than a year from now is the deadline to conform with rules set out by the SEC on conflict materials reporting. One in three of you reading this article right now hasn't even begun the process.

That's the takeaway from a recent IHS webinar on the topic titled “The Clock's Ticking: How to Comply With the New Conflict Minerals Regulations.”

More than 35 percent of the webinar participants said they have made no plans on how to conform with the rules for conflict minerals, IHS reported.

Of the 134 electronics industry managers who attended the webinar and were surveyed, only 7.5 percent said they were well-prepared for compliance, according to IHS.

A year out and the industry's unprepared for  conflict minerals reporting, according to an IHS survey.

A year out and the industry's unprepared for
conflict minerals reporting, according to an IHS survey.

There's some good news associated with today's report: Last October IHS reported that up to 90 percent of electronics companies had not produced data or documentation to fill regulatory requirements for conflict minerals. (See: Compliance Lagging on ‘Conflict Minerals’.)

So how do you and your organization shape up? Take our new poll and give us a sense for how far down the road you are toward completing compliance paperwork for the SEC conflict minerals rule.

Resources for you
And separately if you're just getting started, we have a wealth of information and stories to help guide you in this process. They range from Nicole Lewis's overview of many regulatory issues that need to be addressed in the coming months to Peter Buxbaum's overviews of conflict minerals compliance. (See: Upcoming Regulatory Milestones in the Electronics Supply Chain, Conflict Metals Compliance: An Overview of Web Resources, and The Conflict Minerals Rule: Unintended Consequences.)

The deadline for compliance is May 2014, and it only involves publicly traded companies. It sounds like a long way off, but how comfortable do you feel that you'll hit that deadline?

Related posts:

3 comments on “Industry Still Unprepared for Conflict Minerals Reporting

  1. FLYINGSCOT
    April 21, 2013

    I must admit I am not too familiar with this initiative.  However I will read the articles as they come out and try to learn more about it.  Compliance is only a year or so away and that does not sound like a load of time to get to grips with this and get all the compliance ducks in a row.

  2. Taras Berezowsky
    April 23, 2013

    Dear FlyingScot, 

    You're definitely not alone – chances are, many other individuals and companies are in your position. If you work for a manufacturer, I'd suggest checking out MetalMiner (in addition to EBN's excellent resources).

    On that site, you'll find articles and whitepapers geared SPECIFICALLY toward compliance solutions for manufacturers who buy metals containing conflict minerals. MetalMiner is even hosting a one-of-a-kind conference on May 6 designed to get the proper tools in manufacturers' hands.

    Best of luck!

  3. Ravenwood
    April 23, 2013

     

    “The deadline for compliance is May 2014, and it only involves publicly traded companies.”

     

    True-enough: My company is privately held so it's just between me and my conscience.

     

    • Or is-it?

     

    Fact-is, most of my clients are publicly-traded , so they're affected by the SEC's ruling. That means they're going to burden their suppliers to be likewise compliant, regardless of their suppliers' ownership status.

    So if I don't want to lose my publicly traded customers business, I'd best be certifiably Conflict Mineral-Free.

    – Sparky

     

     

     

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.