1502 Support
During the rulemaking process of Conflict Minerals Section 1502 of the Dodd-Frank Act, RSN was involved with submitting a number of comments to the Securities and Exchange Commission (SEC) on behalf of investors, a multi-stakeholder group, and on its own behalf. RSN has also contributed to defending Section 1502 from those that would like to repeal or weaken it. We believe Section 1502, one of the first mandatory disclosures to the SEC on a human rights issue, is imperative to increase the transparency of companies’ actions regarding a material risk, and drive momentum to bring peace and stability to the Democratic Republic of the Congo (DRC).
Investor Support
RSN has been coordinating actions by sustainable, responsible, and impact (SRI) investors on conflict minerals since 2009. We push for greater transparency and accountability with corporations through our Mining the Disclosures reports and corporate dialogues. We speak out with public statements or send comments to the SEC when the opportunities arise. If you would like to be updated on our activities or sign our investor statements please contact us: info (at) sourcingnetwork.org.
Submissions by Investors to the SEC
Investors Urge the SEC and Administration to Continue Robust Implementation of Section 1502
March 7, 2017 - A coalition of 127 investors representing over $4.8 trillion in assets under management have called on the SEC and the current U.S. Administration to continue the comprehensive implementation of Section 1502. See Press Release >>>
Investors Reiterate Support to Congressional Hearing
November 17, 2015 - Congress held an adversarial hearing to review Section 1502 so RSN coordinated a statement, which reiterated investors’ support for the law and its importance to the SRI investor community. It was cited at the hearing. See Statement >>>
Global Investors Call for Robust European Conflict Minerals Legislation
May 13, 2015 - A group of global SRIs and investment organizations sent a statement to the European Commission, the European Parliament, and the European Council calling for them to adopt robust conflict minerals regulations for the European Union. See Statement >>>
Investors Applaud DC District Court Decision to Uphold Conflict Minerals Rule and Dismiss Lawsuit
July 24, 2013 - The core group of lead investors on conflict minerals issued a public statement applauding the decision taken by the DC District Court on July 23rd to uphold the implementing rules for Section 1502 of the Dodd-Frank Act and to dismiss the lawsuit …. See Statement >>>
Investors Show Support for Conflict Minerals Rule 1502
May 30, 2013 - More than 50 SRIs and faith-based investment groups representing $458.67 billion in assets under management (AUM) released a statement today expressing their support for the SEC’s 1502 final rule and reiterated their disagreement to the lawsuit filed against the SEC by the U.S. Chamber of Commerce, the National Association of Manufacturers, and the Business Roundtable. See Statement on our Blog >>>
Investors Write to Commissioners to Express Opposition to the Lawsuit
November 30, 2012 - Investors express opposition to the lawsuit filed against the SEC regarding Section 1502. Read letter >>>
Investors Welcome SEC Rule on Conflict Minerals
August 23, 2012 - Investors commend the SEC for issuing its Conflict Minerals final rule. See Press Release >>>
2010 Investor Statement Against Conflict Minerals
January 11, 2010 - Before the Dodd-Frank Act was passed, 59 SRIs managing almost $200 billion issued an Investor Statement calling on companies to be more proactive in ensuring the minerals in their electronics components were not fueling the war in the DRC. By the time we closed the signatory list, 83 investors had signed the statement. See Press Release >>>
MSG Support
RSN organized an unlikely coalition of Fortune 500 companies, investors, and human rights groups into a Multi-Stakeholder Group (MSG) (aka Multi-Stakeholder Network (MSN)) that submitted five joint letters to the SEC recommending an appropriate amount of transparency and accountability in mineral supply chains. In its rulemaking document for 1502, the SEC cited comments from the Multi-Stakeholder Group more than any other organization or coalition. Starting in 2017, the MSG merged with the Conflict-Free Sourcing Initiative’s Multi-Stakeholder Group.
Submissions by the Multi-Stakeholder Group to the SEC
MSG Statement Regarding 1502 Lawsuit
November 20, 2012 - Following the lawsuit filed by the National Association of Manufacturers, the US Chamber of Commerce, and the Business Roundtable, the MSG urged all stakeholders to continue the important work of 1502. See Statement >>>
Roundtable on Conflict Minerals
October, 2011 - SEC hosted a Roundtable to discuss conflict minerals. A number of the MSG members presented at the Roundtable. See Announcement >>>
RSN Support
Submission by Patricia Jurewicz, Director of RSN
October 18, 2011 - The SEC will only acknowledge efforts that are formally submitted to the SEC, therefore this letter references the variety of industry-led and multi-stakeholder initiatives created to promote conflict-free minerals from the DRC. See Submission >>>