Company policies and codes of conduct stress a zero tolerance policy for child, forced or compulsory labour.

Want unlimited access to Global Group UK Investor Show content. We look forward to welcoming you all for the UK’s top one-day investment event in 2021. To achieve this, the project focuses on three primary goals: ERG believes all cobalt buyers – including electronics producers, automotive manufacturers and industrial users – should know where their cobalt comes from, and must seek to ensure that it has been produced responsibly. https://www.ibm.com/blogs/industries/blockchain-cobalt/. Downstream companies purchasing cobalt products from a CI member company have the assurance that these products are produced with the highest ethical standards. Cobalt Blue: IBM looks to blockchain for ethical cobalt mining By Jess Langer October 9, 2019 March 26th, 2020 No Comments While blockchain technology is being used to underpin innovations like cryptocurrencies, IBM are looking to it as a way to support ethical cobalt mining and reduce the “collateral damage” caused to the environment in places like the Democratic Republic of Congo. Ethical Supply: The Search for Cobalt Beyond the Congo. After all, it’s an industry that is all about the geology—but beyond the physical aspects and the location of a mineral deposit, there are also social and environmental factors that create a mining jurisdiction.

That’s how we’ve been successful in bringing in participants across the supply chain.”.

Ironically, the cobalt rush in the DRC was partly responsible for this, as the combined output of the creuseurs flooded the market with more cobalt than was needed. The DRC remains the biggest supplier of cobalt on the planet, responsible for well over half of the total annual cobalt production in recent years. Any solution to this problem must include foreign governmental and international support and assistance to the DRC government in a manner that avoids unintended consequences. In the upstream you also have larger industrial miners extracting cobalt through modern mechanized mining techniques. Cobalt is used in lithium ion batteries, among other electronics applications, alloys and catalysts.

The pilot scheme is focused on Ford but Mr Nelson added that upon its completion, IBM believe they will be able to encourage OEMs, defence and aerospace companies to join the platform.

It’s essential for the lithium ion batteries EVs run on, but it’s impossible to trace the original source of cobalt once it is smelted together to create the metal in bulk.

“Location, location, location…” This famous real estate adage also matters in mining. By subscribing you are consenting to receive communications from The UK Investor Show, we will never share your data. Leuven university in Belgium, who has investigated the damage done by mining in the DRC’s ‘copper-cobalt belt’. ERG Management (South Africa) (Pty) Ltd 1 Sturdee Avenue Lower Building Rosebank Johannesburg 2196 Tel: +27 11 552 4300, 238 Route Likasi Commune Annexe Province Haut Katanga Lubumbashi Democratic Republic of the Congo, Africa Technical Services Ltd/ ERG Treasury Africa Ltd 3rd Floor, Ebene Skies Rue de L'Institut Ebene Mauritius Tel: +230 403 8555, Our Business Operations & Assets Sustainability Media Careers Procurement, 0800 444 461 (RSA) compliance@erg.net www.erg.ethicspoint.com, © 2020 ERG Africa | Powered By Spheralytical, Engagement of Stakeholders related to Sustainable Mining, Regulatory Standards and Frameworks on Sustainable Mining.

In the DRC, some industrial mines purchase artisanal production to …

Join our mailing list to receive the latest news and updates from our team and expert speakers! Poverty, a lack of proper employment opportunity, the cost of education, and other capacity gaps are the main issues and should be addressed through partnerships and multi-stakeholder initiatives to help eradicate the use of child labour in places such as the DRC. promoting the sustainable and responsible production and use of cobalt in all forms, Cobalt SEA (Socio-economic Assessment) Studies, The Cobalt Industry Responsible Assessment Framework (CIRAF), Cobalt Industry Responsible Assessment Framework, United Nations Guiding Principles for Business and Human Rights, Extractive Industry Transparency Initiative (EITI), CI Principles/CIRAF (see above), among many others. This is good news for ethical investors keen to maintain an SRI portfolio with access to the EV market in developed countries including the US, without causing environmental harm in economies like the DRC. Over the course of 2014-15, Professor Nemery worked with colleagues to survey the biological condition of creuseurs, local residents and children in Kasulo.

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As a result, cobalt prices may currently be substantially lower than their long-term market value, particularly when the rising demand for electric vehicles is factored into their outlook. ERG recognises the role artisanal mining plays in local ecosystems, but also firmly believes that issues like child labour, environmental damage and generally unsafe mining practices cannot and must not be overlooked.

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