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What are conflict minerals?Conflict minerals are minerals mined in areas of the world where armed conflicts and human rights abuse are rampant. They are frequently mined in the Democratic Republic of Congo and usually include tungsten, tantalum, tin, and gold. To learn more information about conflict minerals, watch the video above and check out the infographic here.
How Investment Management Companies Are Making a DifferenceIn 2011, Pax World signed an agreement with the California Senate supporting SB861. This bill bans California from associating with companies that fail to comply with Federal requirements on reporting Congolese conflict minerals.
“Conflict minerals” are mined in places with significant human rights abuses. Profits from these minerals also fund armed conflicts in these areas, particularly the Democratic Republic of the Congo. (The link has a very informative video about conflict minerals in this area.) Investment management firm Calvert has worked with companies like Microsoft to promote responsible sourcing in the DRC. They ensure there are no conflict minerals in the supply chain.
Domini VP Adam Kanzer was also selected for Securities and Exchange Commission’s Investor Advisory Committee in 2012. Domini also worked with private and governmental entities to secure passage of the Dodd-Frank Act.
How Investors, Businesses, and Other Stakeholders Can HelpThe Enough Project, which aims to end genocide and crimes against humanity in Sudan and the Congo, has the following tips for “Doing Good, While Doing Well”:
1. Invest in conflict-free mines, smelters, and refiners. Find a list here.
2. Businesses should display transparency by implementing the Extractive Industries Transparency Initiative.
3. Support initiatives that create alternative livelihoods for artisanal mining communities.
Local miners and children feel compelled to take part in the conflict mineral trade to feed their families. Companies can prevent this by supporting artisanal mining directly or by providing support and training for alternative job opportunities. Child miners, including girls, should have access to education and even trauma counseling.
4. Consult with local communities early.
Companies should meet with local community members to develop realistic expectations and implement local opportunities. They should talk to diverse community members, including women. (Read about the merits of inclusivity here.)
To understand how Three Corners Capital works to support conflict free initiatives, contact us to learn more.