Uzbek Cotton Surprises Still Being Revealed. Daewoo making headlines.

Unwanted surprises in company’s supply chains are found and amplified often causing serious damage to a corporation's most valuable intangible asset: its brand. That is what has happened to Daewoo with the recent petition to stop operations in Uzbekistan and publicly pledge its opposition to the Uzbek government’s forced labor system. Surprises were also recently uncovered during the conflict minerals filing process with the SEC, in which it was revealed that gold was sourced by several companies from North Korea.

These surprises are the “gold lining” to the conflict minerals cloud. Dozens of filers listed gold sourced by North Korea’s central bank in their SEC filings proving that Section 1502 of Dodd-Frank achieves its objective: transparency that creates meaningful change. Now companies can take action. The recent news-storm revelation about gold being sourced from North Korea also underscores the importance of knowing the country of origin of your materials as early in the reporting year as possible, so validation can be done prior to publishing with the SEC.

Source Intelligence, the leading provider of Conflict Minerals compliance programs can assist with any issues you may have in reaching compliance and is providing complimentary access to their exclusive Webinar Library. Source Intelligence webinar's are fundamentally resourceful for those seeking to attain supply chain transparency, sustainability, and compliance within their industry.
 

To learn more, request a demo of the platform here.