2018 | Umicore | Step 1 Information Review (Step 2.A.1)
Has the company established a system to accurately review the information they gathered in Step 1?
updated over 1 year ago by Organisation for Economic Cooperation & Development (OECD)
"1. Red Flag Check Umicore performs a red flag check on its suppliers based on the collected information in the background check and a market and desktop research. The Framework procedure provides dedicated questions and screening guidelines to facilitate this red flag screening. The red flags are: any form of torture, cruel, inhuman and degrading treatment or punishment; any form of forced or compulsory labor; any form of child labor; any form of bribery and corruption linked to cobalt operations; hand-picking and/or artisanal mining (as primary source); supplier is not willing to accept the principles stated in the Umicore Charter or does not have similar policies in place. For new suppliers of cobalt raw materials, the red flag check occurs as the first step in the decision tree. For existing suppliers, the red flag checks are reassessed when new issues are alerted based on the continuous monitoring, or after plant visits. The existing suppliers are reviewed at least once per year. During the reporting year 2017, Umicore performed the red flag checks on its suppliers. An overview of the red flag indications and follow-up actions can be found in Annex to this report. "