The demand for cobalt, a key component in lithium ion batteries, has grown in recent years as mobile devices have become more ubiquitous. As a result, regulatory bodies have begun to assess where cobalt fits into future conflict mineral rules, and companies are taking the initiative in reporting on its use in their products.
In December 2018, the Responsible Minerals Initiative (RMI) released the Cobalt Reporting Template (CRT), with an aim to empower corporate due diligence activities in accordance with the Organisation for Economic Co-operation and Development’s Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. The guidance outlines a framework for responsible mineral sourcing, including how companies can practice due diligence in their sourcing efforts.
Learn how you can adapt your responsible minerals program to include cobalt. Download our ebook, Cobalt: Responsible Sourcing In Your Supply Chain.
The CRT is the industry standard for companies collecting cobalt-related data from the supply chain, including smelter and refiner information. By completing it, companies can continue to demonstrate due diligence to customers, investors and other stakeholders.
Upon completion, companies may also add their smelters to the RMI’s database of identified cobalt smelters. Identified smelters are asked to take part in an audit process to verify their sources of origin, leading to more trusted sourcing as the list grows.
For more information about adapting your responsible minerals program to include cobalt, contact us.