Kumi Newsletter July 2024
As summer finally warms up in London and Berlin, our colleagues in South America are still braving the cold and the persistent Lima fog.
On a separate note, over the past few months, I’ve witnessed a significant increase in the adoption of standards like Copper Mark and IRMA by mining companies. This growth prompts me to share some reflections on the value of this journey.
My experience has shown me that companies that take the certification process as an opportunity to build internal capacity to manage ESG risks better, get the most out of the process. They not only meet compliance requirements but also foster a culture of learning and development, which is key to delivering responsible business practices. This proactive approach can lead to improved stakeholder trust, enhanced operational efficiencies, and ultimately, a more resilient business model.
As the Kumi team gets busier than ever assisting companies in preparing for audits, it’s rewarding to see the tangible benefits of these efforts. Our Lima (Peru) team is expanding to meet the growing demand, and we’re currently seeking a Senior Consultant to join us in this exciting journey.
Mariana Granziera
Senior Manager
The key developments this month:
1. Advancing Responsible Sourcing in Mineral Value Chains
Our own Alex Graf explores the societal drivers pushing for more responsible sourcing practices and behaviours and the pathways that were adopted to advocate for these changes.
2. EU using incorrect data to map deforestation, warn exporters
The EU law aims to prevent consumption within the bloc from causing deforestation beyond its borders by banning the import of products made from cattle, wood, cocoa, soy, palm oil, coffee and rubber linked to cleared land.
3. Navigating ESG Challenges: Insights and Strategies from LIDW
Kumi’s James Lewry recently joined a panel discussion with Ankura and CRS to discuss the global trends and strategies shaping the ESG landscape.
4. Labour to seek joint declaration with EU on wide-ranging security pact
Labour is said to be leaning against a legally binding joint document that, as well as taking years to negotiate, could also start to conflict with separate work on reviewing the UK-EU Trade Cooperation Agreement…
Unlocking the power of sustainability certifications
At first, I saw certifications as questionable markers of good performance. Over time, however, I’ve come to see that their true value lies not just in the certificate itself but in the processes and systems companies must establish to earn them.
EU Battery Regulation: alignment of FMCG company
Kumi supported a leading FMCG company to begin its journey towards alignment with the EU Battery Regulation, in time for the release of the implementation guidelines next year. We worked with the client to understand its existing procurement processes, supplier relationships and responsible sourcing accountabilities through targeted engagement with internal stakeholders.
Kumi’s RBC Health Check
Based on our unique experience working with clients across multiple industry sectors and geographies, our free Health Check can give you a high-level snapshot of your current responsible business performance. It’s a starting point for assessing how your business stacks up and what you should consider to improve.
Ending child labour: Collaborative solutions for responsible mineral sourcing
Thursday 5th September
Location: London
To foster collaborative solutions for ending child labour, Kumi and the Congo Children Trust are organising a networking and learning event for stakeholders interested in responsible mineral sourcing. The event has two main objectives:
- To support the Congo Children Trust by engaging more stakeholders and attracting support to end child labour.
- To unite stakeholders, foster dialogue and develop impactful solutions.
Invitations will be sent out in a few weeks but if you are interested in being a part of this event in any way, please contact us via info@kumi.consulting
