Albany Pumps supports the global efforts to assist in the eradication of Human Rights abuses in the Democratic Republic of Congo (DRC) and adjoining countries, where the mining of certain minerals has partially financed the long standing conflict in this region.
The US Securities and Exchange Commission (SEC) adopted rules to implement reporting and disclosure requirements related to “conflict minerals,” as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The rules require manufacturers to disclose whether the products they manufacture contain “Conflict Minerals” sourced from “Covered Countries” that are necessary to the functionality or production of those products.
“Conflict Minerals” currently refer to:
“Covered Countries” include:
- Democratic Republic of Congo
- Central African Republic
- Congo Republic
Albany Pumps supports the objectives and intent of this Conflict Minerals legislation and will fulfil its reporting requirements.
We are committed to working towards a conflict-free supply chain by implementing a policy for development of a conflict-free supply chain. The critical elements of the policy are:
- We have performed a risk assessment of the materials used in our supply chain to identify where there is a risk of potential presence of conflict minerals
- We are investigating the suppliers of the items or materials identified in the risk assessment. We are checking those suppliers Conflict Minerals Policies and where no such policy exists, we are contacting them to ask for their help in identifying the source of their materials and to confirm the implementation of a Conflict Minerals Policy.
It must be noted that amongst our suppliers are very large international corporations, who are striving to be Conflict-Free but as yet are not able to fully comply with the requirements. There are also smaller suppliers to whom “Conflict Minerals” is a new issue. We will continue to monitor this position and in due course this may influence our supply chain decisions.