As Sec’s First Conflict Minerals Reporting Deadline Nears, Auto Industry Looks To Increase Collaboration In Year Two

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As Sec’s First Conflict Minerals Reporting Deadline Nears, Auto Industry Looks To Increase Collaboration In Year Two

AIAG Offers Assessment of Progress, and Plans for Future
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#AIAG continues support of #Auto Industry collaboration on #conflictminerals reporting http://3bl.me/cntk86

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Friday, May 30, 2014 - 10:00am

Southfield, Mich., May 30, 2014 /3BL Media/ – With thousands of automotive, electronics and manufacturing companies facing a May 31 deadline to file a Conflict Minerals Report with the U.S. Securities and Exchange Commission, the Automotive Industry Action Group (AIAG) today announced an assessment of industry progress on the issue in the first reporting year, and outlined plans for increased collaboration in the years ahead.

In a recent survey by AIAG of more than 550 professionals working on corporate responsibility (CR) in automotive, manufacturing, and other industries in 40 countries, conflict minerals was identified as the most significant issue facing the automotive industry this year.

According to the survey, conducted in March, nearly half of companies polled have a policy on conflict minerals reporting—yet only half of those companies with a policy said they would meet the May 31 deadline to file a Conflict Minerals Report with the U.S. Securities and Exchange Commission, as required by law. The survey also revealed that AIAG member companies are more likely to have a conflict minerals policy, and more likely to meet the reporting deadline.

“We’re pleased that AIAG member companies are better prepared to meet the first conflict minerals reporting deadline,” said Tanya Bolden, corporate responsibility program development manager at AIAG. “This confirms that when companies work together with others in the industry, we all reap the benefits. Still, we know more can be done to increase collaboration and efficiency in our ongoing efforts to meet the reporting requirements.”

In response to the survey results, AIAG launched a conflict minerals awareness campaign to accelerate industry action on the issue. It is the latest of AIAG’s industry-leading tools that provide automotive OEMs and suppliers unlimited access to the resources and best practices needed to ensure that global vehicle production does not support armed conflict in central Africa, where conflict minerals are often mined.

“Even though 2013 conflict minerals reports are due in a few days, the auto industry needs to keep working on the 2014 reports due in just over a year from now,” said Bolden. “We encourage everyone to look back and assess what’s worked, and make refinements where necessary going forward.” 

In the years ahead, AIAG will continue to expand its conflict minerals initiative, which includes not only the resources above, but also more robust stakeholder engagement. In 2014 and 2015, AIAG is focusing on accelerating the development of the sub-tier supply base.

“These small companies are ‘mission critical’ to the economic vitality of the automotive industry and the countries in which they do business, because they are the primary employers, taxpayers and innovators,” said J. Scot Sharland, executive director at AIAG. “The impact of the great recession, globalization, growing product complexity, and heightened social and environmental compliance expectations have made uncertainty the new norm for many of these suppliers.”

 

About AIAG

AIAG is a unique not-for-profit organization where, for more than 30 years, OEMs, suppliers, service providers, government entities and individuals in academia have worked collaboratively to drive down costs and complexity from the supply chain via global standards development and harmonized business practices.  AIAG membership has grown to more than 1,000 members and includes renowned manufacturers, and many of their parts suppliers and service providers.  For more information, visit

www.AIAG.org.

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Keywords: Responsible Business & Employee Engagement | Conflict Mineral | Conflict Mineral Compliance | Conflict Minerals Act | Conflict Minerals Compliance | DRC | Democratic Republic of Congo | Dodd- Frank Section 1502 | Dodd Frank Act | Dodd Frank Wall Street Reform and Consumer Protection Act | Research, Reports & Publications

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