The Cobalt Institute (CI) has launched a new partnership with RCS Global, a leading adviser on responsible sourcing of natural resources, to establish industry-wide supply chain risk management guidance that is flexible enough to respond to the diversity of the Institute’s membership.
Guidance and coordination
The new partnership will enable member companies, and the cobalt industry more generally, to conduct enhanced due diligence in line with industry good practice and global frameworks focused on responsible sourcing of minerals.
A key part of the project is also to strengthen engagement and coordination amongst industry bodies and other responsible cobalt programmes. This will ensure CI members and other stakeholders in the supply chain are fully aware of the due diligence and compliance landscape they are operating in.
The project will further underpin the CI’s longstanding commitment to the responsible production and use of cobalt in all forms and our position as a leading industry voice on good practice in this regard.
A leading responsible production partner
RCS Global are one of the world’s leading advisory, audit and training companies focusing on responsible sourcing of natural resources. Over the last two years the company has established itself as the leading specialist in responsible cobalt, publishing a major report on the issue last autumn and playing an active role in other current responsible sourcing initiatives across the sector.
Improving risk assessment, due diligence, and industry practice
There a several key objectives for the eighteen-month project. It will clarify and map the risks faced by CI members and deliver high-level insight into the responsible cobalt space. Coupled with this, the project will establish a link for CI members with other actors and bodies in the sector. A set of cost-effective and flexible approaches to risk management, regulatory and good practice compliance will then be delivered. Finally, a flexible but robust reporting framework will also be created for members to utilise.
The CI and RCS Global will be engaging directly with members to give them further detail on the project.