FRIENDS FIDUCIARY SUPPORTS SEC RULE ON “CONFLICT MINERALS”

Friends Fiduciary is part of a diverse coalition of faith-based and socially responsible investors supporting and advocating for the “Conflict Minerals” provision of the Dodd-Frank Act. The recent Securities and Exchange Commission (SEC) final ruling mandates that corporations must determine the origin of “conflict minerals” used in their products. These minerals (which include tin, tantalum, tungsten and gold) are widely used in cell phones, laptops, and other electronic products. The purpose of the final rules is to assess whether materials originating from or near the Democratic Republic of the Congo (DRC) are benefiting armed rebel groups and thereby financing extreme levels of violence in the eastern DRC and contributing to the humanitarian crisis in the region.  As values based investors, Friends Fiduciary believes that this is a step towards greater transparency and accountability in supply chain due diligence for U.S. companies on this important concern. To view the letter to the SEC click here.