Session 5 - Control points: due diligence expectations and incentives for smelters and refiners
May 23, 2024 | 7:30 AM - 8:45 AM
May 23, 2024 | 7:30 AM - 8:45 AM
Description
The OECD Minerals Guidance sets out a unique role for smelters and refiners as control points for due diligence audits along mineral supply chains. Articulating the division of responsibilities for upstream and downstream actors, OECD recommendations on control points are intended to foster a rationalised system of engagement and leverage throughout the supply chain aimed at effectively mitigating serious risks spanning human rights, financial crime and conflict financing. Many indications suggest though that too little due diligence information is collected and acted upon, and engagement between parts of the supply chain is often limited to audits. The session will focus on expectations for smelters and refiners, the role of institutionalised mechanisms in supporting and assessing risk mitigation, and lessons learned from trading hubs with a view to enhancing incentives for more transparency and meaningful due diligence.
