Managing raw materials in a sustainable way has always been difficult. This will continue to be the case as the use of raw material is set to double by 2060, according to the Organisation for Economic Co-operation and Development (OECD),
As the demand increases there is growing attention on the risks associated with the extractive industries, as well as their environmental impacts.
To help companies navigate this, the Responsible Minerals Initiative ( RMI) and TDi Sustainability announced on Dec. 8 the launch of the Material Insights Platform. This online solution 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.
“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,”said Assheton Carter, CEO of TDi Sustainability, in a statement.
