Favor Policy on Responsible Minerals Sourcing
Favor expect our supply chain to respect and support internationally recognized human rights movements and to contribute to minimizing social/economic and environmental risks. While sourcing minerals, we will NOT, by any means, tolerate, knowingly profit from, contribute to, assist with or facilitate the commission by any party in any forms of human rights violations or abuses, or support operations that result in the degradation of socioeconomic and environmental stability.
Favor also requires its suppliers to adhere to the Responsible Business Alliance Code of Conduct and commit to the Favor policy elements below.
As part of this responsible minerals sourcing policy, Favor commits to:
1、Identify and prioritize minerals for inclusion in our responsible sourcing strategy (currently 3TG, aluminum, cobalt, copper, graphite, lithium, mica and nickel), using nationally recognized data, industry tools, and methods to assess materiality to Favor business and level of risk, including a Conflict-Affected and High-Risk Area (CAHRA) identification;
2、Require that suppliers neither directly nor indirectly finance armed groups;
3、Conduct due diligence on prioritized minerals in accordance with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from CAHRAs;
4、Require suppliers to conduct due diligence on prioritized minerals in accordance with OECD Guidance and using the tools developed by the Responsible Minerals Initiative (RMI) to enable supply chain transparency;
5、Co-work with its supply chain, industry groups (RMI), government, civil society, and other organizations (OECD Responsible Minerals Forum & Public-Private Alliance for Responsible Minerals Trade) to develop supply of conflict-free products when sourcing prioritized minerals;
6、Develop action plans for Smelters or Refiners (SORs) identified as not participating or certified to a OECD due diligence third party mechanism;
7、Seek to support organizations that focus on a responsible and sustainable minerals trade and diverse and stable economies.
Favor expect our supply chain to respect and support internationally recognized human rights movements and to contribute to minimizing social/economic and environmental risks. While sourcing minerals, we will NOT, by any means, tolerate, knowingly profit from, contribute to, assist with or facilitate the commission by any party in any forms of human rights violations or abuses, or support operations that result in the degradation of socioeconomic and environmental stability.
Favor also requires its suppliers to adhere to the Responsible Business Alliance Code of Conduct and commit to the Favor policy elements below.
As part of this responsible minerals sourcing policy, Favor commits to:
1、Identify and prioritize minerals for inclusion in our responsible sourcing strategy (currently 3TG, aluminum, cobalt, copper, graphite, lithium, mica and nickel), using nationally recognized data, industry tools, and methods to assess materiality to Favor business and level of risk, including a Conflict-Affected and High-Risk Area (CAHRA) identification;
2、Require that suppliers neither directly nor indirectly finance armed groups;
3、Conduct due diligence on prioritized minerals in accordance with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from CAHRAs;
4、Require suppliers to conduct due diligence on prioritized minerals in accordance with OECD Guidance and using the tools developed by the Responsible Minerals Initiative (RMI) to enable supply chain transparency;
5、Co-work with its supply chain, industry groups (RMI), government, civil society, and other organizations (OECD Responsible Minerals Forum & Public-Private Alliance for Responsible Minerals Trade) to develop supply of conflict-free products when sourcing prioritized minerals;
6、Develop action plans for Smelters or Refiners (SORs) identified as not participating or certified to a OECD due diligence third party mechanism;
7、Seek to support organizations that focus on a responsible and sustainable minerals trade and diverse and stable economies.