On December 18, IPC staff attended a “Stakeholder Briefing on EU Conflict Minerals Policy” held by the European Union (EU) Commission in Washington, D.C. Petros Sourmelis, directorate general for trade within the EU Commission, provided an executive briefing for IPC and other industry stakeholders on the status of the development of EU conflict minerals legislation.
Sourmelis emphasized that the EU wants to avoid imposing burdensome requirements and is considering options that are compatible with and will complement existing regulations such as Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the OECD Due Diligence Guidelines. Regarding specifics of the legislation, Sourmelis stated that it was premature to say whether the final proposal would contain voluntary elements, mandatory elements, or a combination of both.
IPC is actively engaged in advocating on behalf of our members and has met with EU Commission officials to urge them to proceed cautiously before implementing conflict minerals legislation especially in light of the negative, unintended effects of Dodd-Frank. In October, Signe Ratso of the EU Commission spoke at a conference hosted by IPC in Brussels. IPC members can view her presentation here.
IPC will remain actively engaged in the conflict minerals issue and will continue its advocacy efforts to promote conflict minerals legislation that avoids actions to unduly burdens manufacturing and commerce industries or cause unnecessary disruptions of the minerals trade. For more information about IPC’s advocacy and position on conflict minerals, visit the IPC Conflict Minerals webpage.