The Copper Mark, the International Lead Association (ILA), the International Zinc Association (IZA), the Nickel Institute and the Responsible Minerals Initiative (RMI) are pleased to announce that their Joint Due Diligence Standard for Copper, Lead, Nickel and Zinc (Joint Standard) has been recognised as a conditionally approved standard for Track A of Responsible Sourcing Requirements by the London Metal Exchange (LME).
The Joint Standard – officially launched by the five organizations on 1 January 2021 – has now been confirmed through an independent standard alignment assessment to be 100% OECD-Aligned. Using the Joint Standard enables producers of LME Brands to demonstrate compliance with the LME’s Responsible Sourcing requirements.
The Joint Standard takes into account the risk profile of copper, lead, nickel and zinc supply chains and is designed to enable effective due diligence for producers and/or traders of these metals. It builds on existing standards and looks to provide flexibility for multi-metal producers to include any associated metal products of their site(s) as needed.
The Joint Standard was developed by a working group including the partner organizations, other interested commodity associations, multi-metal company representatives, as well as OECD and LME. Additional stakeholder input was obtained as part of the public consultation period in September 2020, the results of which have been made publicly available.
The Joint Due Diligence Standard allows sites to be assessed by either the Copper Mark Assurance Process or the Responsible Minerals Assurance Process. It is accompanied by a due diligence tool helping Brands implement the LME responsible sourcing policy as well as shared training resources – including frequently asked questions, and animated training modules available to support implementation. The Standard is available in English, Spanish, Chinese, Japanese, Russian.
The decision by the LME to recognize the Joint Due Diligence Standard is a testament to the robust framework established by the standard and is a product of the extensive and valuable collaboration between the Copper Mark, the ILA, the IZA, the Nickel Institute and the RMI.
“The LME is delighted to recognize the Joint Due Diligence Standard and the Copper Mark as conditionally approved standards for Track A. The organizations who created the Joint Due Diligence standard have shown great leadership in expanding the OECD Due Diligence Guidance to minerals beyond 3TG, including copper, nickel, lead, and zinc. We see these standards playing a significant role for producers of LME Brands to be in compliance with the LME responsible sourcing requirements,” saidNicole Hansen for the London Metal Exchange.
“We are pleased that the Joint Due Diligence Standard have been recognised by the LME as a conditionally approved standard for Track A of Responsible Sourcing Requirements. This is an important step towards enhancing due diligence processes for copper, nickel, lead and zinc, while sending a strong market signal on the imperatives of promoting responsible production and sourcing practices within global metals supply chains,” said Michèle Brülhart, Executive Director of the Copper Mark.
“We are delighted that the LME has recognised the Joint Due Diligence Standard. This is a significant milestone and will help lead metal producing facilities demonstrate that they are meeting internationally recognised standards for responsible sourcing,” said Dr Steve Binks, Regulatory Affairs Director of the International Lead Association.
“I would like to congratulate all the organisations involved as well as our member companies for achieving this major milestone. Our joint effort will allow nickel brands listed and traded on the LME to be assessed and show they are compliant with the LME responsible sourcing requirements. The feedback received from independent third parties and civil society during the process of drafting the standard has shown the importance and benefit of transparency and stakeholder involvement,” said Dr. Hudson Bates, President of the Nickel Institute.
“Having the Joint Due Diligence Standard conditionally approved is great news for IZA member companies. The Standard will enable all zinc producers to comply with LME responsible sourcing requirements not only for SHG Zinc but also for all by-products. The cooperation with other metals associations was very positive and should help to reduce the administrative burden for metal producers,” said Dr. Eric Van Genderen, Director of Environment, Health and Sustainability for the International Zinc Association.
“We are pleased to have reached this important milestone with our metal association partners. Conditional approval of the Joint Due Diligence Standard by the LME provides a clear signal to producers, metal purchasers, and downstream companies about the quality and value of this standard in the marketplace. The RMI looks forward to implementing the standard and continuing to support responsible production and sourcing in the lead, zinc, copper, and nickel supply chains,” said Leah Butler, Vice President, Responsible Business Alliance.
For any questions on the Joint Due Diligence Standard, please contact:
For the Copper Mark: email@example.com
For the International Lead Association: firstname.lastname@example.org
For the International Zinc Association: email@example.com
For the Nickel Institute: firstname.lastname@example.org
For the Responsible Minerals Initiative: RMI@ResponsibleBusiness.org
About the Copper Mark
The Copper Mark is an assurance framework available for the copper industry to demonstrate its responsible production practices and its contribution to the United Nations SDGs. The Copper Mark offers a comprehensive system that addresses 32 environmental, social and governance issues related to the responsible production of copper, using the Responsible Minerals Initiative’s (RMI) Risk Readiness Assessment. The Copper Mark is incorporated as an independent entity headquartered in the United Kingdom. For additional information visit coppermark.org.
About the International Lead Association
The International Lead Association (ILA) is the trusted global trade association for the lead industry and its member companies are at the forefront of the mining, smelting, refining and recycling of lead. For more information visit www.ila-lead.org.
About the International Zinc Association
The International Zinc Association represents the zinc industry globally, to sustainably grow markets and maintain the industry’s license to operate through effectively managed initiatives in research and development, technology transfer, and communication of the value of zinc. IZA represents 40 full members and over 200 affiliate and associate members. IZA’s members reflect the whole zinc value chain from mining, production, and manufacturing to recycling. Through its sustainability program, IZA coordinates the joint contribution of the zinc sector to achieving the UN SDGs. IZA is an associate member of the ResponsibleSteel Standard and supporting member of the Dutch IRBC for the Metals Sector.
About the Nickel Institute
The Nickel Institute (NI) is the global association of leading primary nickel producers. Our mission is to promote and support the proper use of nickel in appropriate applications. The NI grows and supports markets for new and existing nickel applications including stainless steel, and promotes sound science, risk management, and socio-economic benefit as the basis for public policy and regulation. Through our science division NiPERA Inc., we also undertake leading-edge scientific research relevant to human health and the environment. The NI is the centre of excellence for information on nickel and nickel-containing materials and has offices in Asia, Europe and North America.
About the Responsible Minerals Initiative
The Responsible Minerals Initiative (RMI) is an initiative of the Responsible Business Alliance (RBA). The RMI is a multi-industry initiative with more than 380 member companies. Its members contribute to the development and international uptake of a range of tools and resources focused on minerals supply chain due diligence, including independent third-party audit programs for smelters/refiners, Minerals Reporting Templates, supply chain risk assessment tools, Country of Origin data, and guidance documents. RMI’s tools cover over 22 metals and minerals and are inclusive of a range of environmental, social, and governance risk areas. The RMI runs regular workshops on responsible sourcing issues and contributes to policy development with civil society organizations and governments. For more information, visit ResponsibleMineralsInitiative.org.