GreenSoft’s New Service Helps Companies Comply with Conflict Minerals Legislation
Conflict minerals law makes demands on electronics manufacturers and their supply chain. GreenSoft’s new service helps companies demonstrate due diligence.
South Pasadena, CA, October 05, 2011 --(PR.com)-- GreenSoft Technology, Inc., a leading provider of environmental compliance data services and software, announced a service to help companies comply with Conflict Minerals legislation.
Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the “Conflict Minerals Law,” requires publicly-traded US companies to disclose the sources of certain minerals in their products originating in the Democratic Republic of the Congo (DRC). The SEC has the responsibility to define the reporting and due diligence procedures. Manufacturers will be required to obtain an audit performed by an independent third party to verify their supply chain. The regulation is under final reconciliation, but it is clear that companies, both US-based and overseas, will require detailed knowledge about the composition of its products, the country of origin of conflict minerals, and the supply chain.
GreenSoft will do the following to help companies demonstrate due diligence:
GreenSoft will contact your suppliers for a certificate of compliance and assist them in completing an EICC Conflict Minerals Reporting Template if necessary.
If suppliers fail to provide any data, GreenSoft will recommend replacement suppliers that will provide a certificate stating compliance with Conflict Minerals regulations or disclosure in an EICC form.
If suppliers use Conflict Minerals from the Democratic Republic of Congo and surrounding countries, GreenSoft will ask suppliers to disclose smelter/mine information.
“Though the implications of this legislation are unclear, companies will certainly have to start making inquiries of its supply chain,” said Larry Yen, President of GreenSoft. “We believe providing a certificate of compliance of non-use from suppliers will demonstrate due diligence and will become best practice.”
For more information about GreenSoft’s new service, please visit www.greensofttech.com.
About GreenSoft Technology, Inc.
GreenSoft Technology is a leading provider of environmental compliance content management tools and services for the global electronics industry. GreenSoft data management services streamline development cycles, cut procurement costs, reduce risk, and aid in environmental compliance reporting. GreenSoft’s GreenData Manager software provides an out-of-the-box compliance management solution for manufacturers. GreenSoft is ISO 9001:2008 certified and is headquartered in South Pasadena, California. For more information, visit www.greensofttech.com.
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Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the “Conflict Minerals Law,” requires publicly-traded US companies to disclose the sources of certain minerals in their products originating in the Democratic Republic of the Congo (DRC). The SEC has the responsibility to define the reporting and due diligence procedures. Manufacturers will be required to obtain an audit performed by an independent third party to verify their supply chain. The regulation is under final reconciliation, but it is clear that companies, both US-based and overseas, will require detailed knowledge about the composition of its products, the country of origin of conflict minerals, and the supply chain.
GreenSoft will do the following to help companies demonstrate due diligence:
GreenSoft will contact your suppliers for a certificate of compliance and assist them in completing an EICC Conflict Minerals Reporting Template if necessary.
If suppliers fail to provide any data, GreenSoft will recommend replacement suppliers that will provide a certificate stating compliance with Conflict Minerals regulations or disclosure in an EICC form.
If suppliers use Conflict Minerals from the Democratic Republic of Congo and surrounding countries, GreenSoft will ask suppliers to disclose smelter/mine information.
“Though the implications of this legislation are unclear, companies will certainly have to start making inquiries of its supply chain,” said Larry Yen, President of GreenSoft. “We believe providing a certificate of compliance of non-use from suppliers will demonstrate due diligence and will become best practice.”
For more information about GreenSoft’s new service, please visit www.greensofttech.com.
About GreenSoft Technology, Inc.
GreenSoft Technology is a leading provider of environmental compliance content management tools and services for the global electronics industry. GreenSoft data management services streamline development cycles, cut procurement costs, reduce risk, and aid in environmental compliance reporting. GreenSoft’s GreenData Manager software provides an out-of-the-box compliance management solution for manufacturers. GreenSoft is ISO 9001:2008 certified and is headquartered in South Pasadena, California. For more information, visit www.greensofttech.com.
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Contact
GreenSoft Technology, Inc.
Steve Schonebaum
323-254-5961
www.greensofttech.com
Steve Schonebaum
323-254-5961
www.greensofttech.com
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