Assessing social and environmental risks in raw material extraction and processing, and industry’s ability to appropriately manage such risks, remains a challenge for downstream companies due to the size and complexity of international supply chains. In addition to the difficulty of reaching suppliers beyond the first-tier supply chain levels, companies are confronted with a highly fragmented landscape of standards, initiatives and certifications related to responsible mining and minerals processing. Existing standards may focus on different issues and define varying performance and implementation requirements. Furthermore, standards cover different raw materials as well as types of mining operations.
In line with its mission and in partnership with technical experts and co-developers at The Dragonfly Initiative, the Responsible Business Alliance (RBA) and the Responsible Minerals Initiative (RMI) offer tools to promote a common understanding of best practices and a means to consistently assess risks in the mineral supply chain:
- Standards Comparison: Compares over 50 standards commonly used in the materials value chain across 32 ESG issue areas, distilling them into a set of benchmarked norms representative of best risk management practice in each area.
- Risk Readiness Assessment (RRA): A self-assessment tool for minerals and metals producers and processors to assess and communicate their risk management practices and performance using the benchmarked norms established in the Standards Comparison. Includes 15 minerals/metals: Aluminum, Alumina, Tantalum, Steel, Mica, Nickel, Lithium, Iron Ore, Gold, Tungsten, Tin, Graphite, Bauxite, Cobalt and Copper.
To learn more about the Standards Comparison and RRA, please visit the RRA page here on the RMI website.
For additional information, please contact Leah Butler.