The Responsible Minerals Initiative (RMI) and The Copper Mark have announced the launch of the RMI’s Risk Readiness Assessment (RRA) and the RMI’s and Copper Mark’s joint Criteria Guide, version 3.0. The RRA Criteria and Criteria Guide are publicly available to all interested stakeholders.
The RRA is a set of mineral-agnostic criteria for responsible production, sourcing, processing, and recycling of minerals and metals. Version 3.0 of the RRA consists of 33 criteria, covering environmental, social, and governance (ESG) risks, and it defines due diligence requirements and responsible production, sourcing, processing, and recycling practices for minerals and metals against which users can assess their performance.
The RRA was created by the RMI in 2017, has been completed by more than 600 mines, smelters, refiners, manufacturers, and recyclers, across a broad range of metals, and has provided visibility for hundreds of downstream companies relying on RRA users’ voluntary disclosure of self-assessment results. Following the release of RRA version 3.0, the RMI will align its ESG Standard to the RRA. Currently, the ESG assessment scope is at the facility level, and it will now be expanded to include supply chain risks. The RRA version 3.0 will be effective starting 1 January 2024, for companies interested in completing the RMI’s updated RRA self-assessment offline, and will be available through the RBA-Online tool from 1 April 2024.
The RRA Criteria Guide is also used by The Copper Mark to define the requirements its participants have to meet to receive the Copper Mark, Nickel Mark, Zinc Mark or Molybdenum Mark. To date, over 80 sites participate in the Copper Mark Assurance Process, thereby undergoing an independent third-party assessment of their practices at site-level against the RRA Criteria Guide. Starting 1 January 2024, The Copper Mark will require all its new participants to be assessed against the requirements of the RRA Criteria Guide, version 3.0. Current participants that are due for assessment in 2024 will be able to choose between versions 2.0 and 3.0 of the RRA Criteria Guide and, from 2025 onward, all Copper Mark participants will be required to implement version 3.0.
With the revision, the RMI and The Copper Mark aim to define industry-specific ESG practices grounded in the UN Guiding Principles on Business and Human Rights (UNGP) and in the OECD 6-step due diligence framework, as well as aligning with the most recent developments in regulations and industry best practices. They require companies to identify, assess, prevent, and mitigate risks and adverse impacts associated with company operations and supply chains. By building on those international frameworks, the RRA supports regulatory preparedness in many jurisdictions.
Version 3.0 of the RRA also recognises ongoing industry efforts that can be demonstrated via credible standards and globally established protocols and methodologies.
“Version 3.0 of the Risk Readiness Assessment marks an important milestone in the expansion of the RMI’s suite of tools to support robust ESG due diligence,” said Jennifer Peyser, Executive Director of the RMI. “Multi-stakeholder consultations have made version 3.0 a strong foundation upon which to build the RMI’s company self-assessment tool and an updated ESG Standard to meet international norms and shared expectations of upstream and downstream companies and stakeholders, and to support emerging regulatory requirements.”
“Continuous improvement is one of The Copper Mark’s key principles and version 3.0 of the Risk Readiness Assessment represents this principle by raising the bar on what it means to be a responsible producer,” added Michèle Brülhart, Executive Director of The Copper Mark. “Based on a rigorous two-year revision process including extensive stakeholder consultation, we are excited to launch these updated requirements and work with our participants to implement these onsite.”
Version 3.0 of the RRA is the outcome of a multi-stakeholder consultation and decision-making process that draws on the recommendations of the ISEAL Code of Good Practice for standard setting. More than 35 civil society and international organisations, numerous metal associations, industry experts, and company representatives were engaged in the revision process, either as members of a dedicated technical committee, or in individual dialogue and public consultations. The RMI will continue to promote the uptake of ESG due diligence in the industry, and foster dialogue between upstream and downstream supply chain actors around responsible mineral production practices.
Read the article online at: https://www.globalminingreview.com/mining/20102023/rmi-and-the-copper-mark-publish-criteria-for-responsible-minerals-and-metals/