The Responsible Minerals Initiative (RMI) and TDi Sustainability today announced the recent launch of their Material Insights Platform, which supports responsible sourcing practices by providing insights into environmental, social and governance data associated with crucial raw materials.
According to estimates by the Organisation for Economic Co-operation and Development (OECD), raw material use is set to double by 2060, placing significant pressure on supply chains. This demand is increasing along with growing attention on the risks associated with the extractive industries, as well as their environmental impacts.
The Material Insights Platform is a dynamic online industry solution that is designed to support a broad range of companies and stakeholders to navigate this environment, and to facilitate learning, collaboration, and improved ESG management in mineral supply chains for more than 21 materials across 30 industries.
The profiles within the Material Insights Platform include data on key ESG potential negative impacts relevant to each material, with reports linking the material to ESG risk factors, a series of grades to measure the severity and credibility of allegations in the reports, and an overall salience score for the material in each ESG risk category. Additional context is provided through:
- Pinpointing where risk issues may be geographically concentrated;
- Noting where risk issues are confined to specific sections or stages of supply chains;
- Identifying opportunities to make a positive impact or mitigate risk; and
- Noting drivers of demand or possible future changes in where production takes place.
The profiles also include data to assist users in identifying risks to the security of supply for each material via production data, supply chain resilience data, and country governance indicators:
- Production data – graphical and/or cartographic representation of the leading producers according to latest data;
- Supply chain resilience data – supply chain concentration, price volatility, depletion, and recycling; and
- Country governance indicators – displaying the scores for key producers, indicating conflict-affected and high-risk areas.
“The data in the Material Insights Platform will greatly benefit the more than 400 company members of the RBA’s Responsible Minerals Initiative that operate across 30 sectors,” said Rob Lederer, CEO of the Responsible Business Alliance (RBA). “This information will strengthen their due diligence efforts in support of their responsible sourcing objectives.”
“We’re delighted to be working alongside the Responsible Business Alliance to develop a hugely valuable platform analysing the importance of supply chain ESG issues for a range of the most common raw materials,” said Assheton Carter, CEO of TDi Sustainability. “With supply chains increasing in complexity, stakeholders are facing significant obstacles in setting responsible sourcing strategies due to the lack of reliable data on the environmental and social impacts of raw materials. We hope that the Material Insights Platform will help to bridge that gap.”
The Material Insights Platform went live on September 22 and continues to expand upon earlier research conducted for the RMI-Drive Sustainability Material Change report, which presented analyses of materials commonly used in the manufacture of automobiles and electronic products, using criteria that established materials’ importance to industry, and associated environmental, social and governance issues.
To access the Material Insights Platform, visit: material-insights.org
The Responsible Minerals Initiative (RMI) is an initiative of the Responsible Business Alliance (RBA). The RMI is a multi-industry initiative with more than 400 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, Minerals Reporting Templates, supply chain risk assessment tools, Country of Origin data, and guidance documents on responsible sourcing of all minerals/metals. 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
TDi Sustainability is a sustainability advisory firm with a purpose – to create an environmentally, economically and socially responsible system of connected enterprises, positively impacting communities and businesses the world over. The team comprises corporate sustainability strategists, compliance and corporate risk analysts, and ESG auditors. TDi Sustainability has completed dozens of mandates to build responsible supply chains for downstream companies in multiple sectors, covering agricultural products, raw materials, textiles, minerals, fragrances and plastics. https://tdi-sustainability.com/