In August 2012 Etica Sgr, together with 49 members of ICCR, sent a letter to the President of the SEC, the US Securities and Exchange Commission, which proposed to include some rules for US Companies that have suppliers of minerals in Congo and in another nine neighbouring countries: several cases of violation of human rights, particularly involving forced labour and child labour, have been reported in the past in these countries’ mines, in many cases controlled by local armed groups, due to the absence of a regulatory system on the matter. The ICCR network therefore asked the SEC to make it mandatory for US Companies to monitor (and respectively report upon) the respect of human rights at their plants and those of their suppliers.
In late 2012 the SEC approved these rules which will become effective as of 2014.
The initiative was coordinated by the NGO As You Sow through the Responsible Sourcing Network project.
A similar initiative was also developed in Europe, coordinated by Triodos Bank, which Etica joined in 2014. A bill to that effect is being considered by the European Council and Parliament.
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01 August 2012Social and governance