- "iPoint Conflict Minerals Platform" Helps Companies Comply with Dodd-Frank Act and Related Rules
iPoint-systems has launched the iPoint Conflict Minerals Platform (iPCMP), a web-based data management solution that will enable companies across the manufacturing industries to identify whether their products contain conflict minerals. The release of this tool is very well-timed, as reporting requirements of the Dodd-Frank Act (2010) and related rules have been adopted by the U.S. Securities and Exchange Commission (SEC) on August 22, 2012.
Section 1502 of the Dodd-Frank Act and related SEC rules require every publicly traded company "with conflict minerals necessary to the functionality or production of a product it manufactures or contracts to be manufactured" to provide an annual disclosure report on conflict minerals- i.e. minerals and their derivatives originating from, and financing conflict in, the Democratic Republic of the Congo or adjoining countries. These statutory requirements are going to affect more than 280,000 companies worldwide which are going to face huge challenges in tracking the origin of minerals across their global supply chains.
The iPCMP, which was developed in close collaboration with the Automotive Industry Action Group (AIAG), provides the entire supply chain a solution to this challenge: it streamlines the reporting processes by building on the leading Conflict Minerals reporting standard that was developed by the Electronic Industry Citizenship Coalition (EICC) and the Global e-Sustainability Initiative (GeSI). The application enables companies to document their conflict minerals status efficiently by gathering data from all of their suppliers.
"The platform is based on iPoint's extensive experience in creating and implementing product-related environmental compliance solutions within the value chain and it is an important part of our holistic sustainable supply chain approach," said Jörg Walden, CEO of iPoint. "iPCMP users can efficiently manage large volumes of information requests. A host of add-on features such as integrated validation checks, statistics, online report storage and granular due diligence reports, ensure that our customers meet the traceability requirements of the Dodd-Frank Act."
For a limited time, interested companies may test the iPCMP on a free-trial-basis. With a view to the future, iPoint is going to integrate the iPCMP into a comprehensive compliance & sustainability software suite to support companies across the whole range of reporting needs.
For more information on the iPoint Conflict Minerals Platform, visit http://www.conflict-minerals.com
For more information on iPoint-systems, the world's leading expert in environmental product compliance and sustainability, visit http://www.ipoint-systems.com
For more information on the Automotive Industry Action Group, visit http://www.aiag.org
Contact and further information:
iPoint-systems gmbh
Katie Böhme
Communications Manager
Ludwig-Erhard-Str. 52-56
D-72760 Reutlingen
Phone: +49(7121)1-44-89-60
Fax: +49(7121)1-44-89-89
katie.boehme(at)ipoint-systems(dot)de
Source: iPoint-systems
Editor: PR Wire
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