UL introduces WERCSmart conflict minerals platform
UL’s Information & Insights (I&I) division has a comprehensive lineup of supply chain information, tools and subject-matter experts that can help companies identify conflict minerals sources and put the mandated comprehensive, audit-traceable reporting procedures in place quickly and cost-effectively.
Most corporations struggling to meet the Dodd-Frank Section 1502 reporting requirements still don’t know if their products contain conflict minerals or not. The opacity of today’s complex and dynamic global supply chains can easily obscure the source of minerals and other raw materials and hide all kinds of surprises. In fact, the conflict minerals challenge illustrates how far industries still are from supply chain transparency, and the key role that transparency plays in achieving sustainability goals.
Issues in modern supply chains now have a much greater impact on the world than we ever anticipated. They are a confusing informational labyrinth that is hampering sustainability initiatives by hiding harmful product attributes. UL I&I has assembled an unparalleled combination of supply chain data, tools and expertise—the preventative intelligence companies need to vet and remove conflict minerals and other non-sustainable materials.
Dodd-Frank requires affected companies to focus on conflict minerals right now, to verify all impacted raw materials are coming from ethical sources. However, a supply chain may have thousands of first-tier suppliers, with tens of thousands more behind them. Tracing raw materials back to their source is daunting, labor-intensive and time-consuming.
Fortunately, UL’s I&I division has a solution to the conflict minerals problem, and it is one that will also improve supply chain sustainability across the board. Some specific capabilities of the WERCSmart Conflict Minerals Platform include:
* A state-of-the-art SaaS platform that delivers real-time product-attribute intelligence
* Database and decision-support tools for collecting and reporting on information from suppliers, for making smarter decisions about sourcing
* Assessment tools for vetting products, investigating sources, and monitoring sustainability performance improvement across the supply chain
* Program development and advisory services that help companies design and implement due-diligence practices for sourcing raw materials in compliance with traceability requirements
Consumers and regulators continue to voice a need for higher standards on corporate sustainability initiatives. As such, when businesses choose a conflict minerals solution, there is a great benefit to selecting a much broader sustainability framework. UL I&I offers an unmatched combination of subject-matter expertise, global footprint, field support, technology platforms, and history of trust, neutrality and integrity.
To learn more about UL I&I’s WercSMART: Conflict Minerals, please join a free webinar on October 15 at 9:30 am CST.