Cincinnati, OH, May 10, 2021 – Benchmark ESG™ | Gensuite®, a cloud-based Environmental, Social, Governance (ESG) software solutions provider, recently finalized the development of its new Cobalt Reporting capability to help its customers address supply chain due diligence requirements related to responsible minerals reporting obligations as developed by a cross-industry initiative under the direction of the Responsible Minerals Initiative (RMI). The new Cobalt Reporting module complements Benchmark’s existing Conflict Minerals reporting capabilities to gather supplier information regarding cobalt sourcing for downstream reporting to stakeholders, consumers, and manufacturers.
A tool within the Benchmark ESG Stewardship™ platform, the Cobalt Reporting module utilizes the standardized Cobalt Reporting Template (CRT), provided by the Responsible Minerals Initiative (RMI), to facilitate communication on cobalt sourcing between a company and its supply chain. Benchmark ESG users can send out a Cobalt Reporting Survey to their suppliers and review their responses. Cobalt smelters are identified and flagged based on information from RMI’s smelter database. This database is based on eligibility and audit criteria established in RMI’s Responsible Minerals Assurance Process (RMAP), providing a standard to compare against amid various company standards for ethical sourcing in individual supply chains. Additional functionality is also available to automatically generate a complete CRT based on a subscriber’s supply chain to deliver a clear picture of cobalt sourcing and identify potential risks.
At a time when transparency into ESG commitments has increased, these new features are enabling companies to increase awareness around how they are ethically sourcing raw materials. While Cobalt sourcing is not currently under regulatory oversight, this feature comes as a due diligence effort to determine where suppliers are sourcing their cobalt and if any comes from conflict-affected or high-risk areas, including the Democratic Republic of the Congo (DRC) or adjoining countries.
Benchmark ESG specializes in Stewardship solutions that deliver on responsible sourcing commitments and maintain a healthy supply chain. Learn more about Benchmark ESG’s Product Steward and how you can take advantage of the new Cobalt Reporting Survey.
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