HatchMed Responsible Minerals Sourcing Policy
The Policy
HatchMed is committed to the responsible sourcing of
minerals – sourcing done in an ethical and sustainable manner – that safeguards
human rights. This applies to our own operations and across our global supply
chain. Initially, both certain established industry standards and global
regulatory requirements only addressed, tin, tungsten, tantalum and gold (3TG)
sourced from the Democratic Republic of Congo (DRC) and DRC-adjoining
countries. Prompted by growing concerns
about human rights abuses and other risks related to the extraction of minerals
beyond 3TG, such as cobalt, and in geographies beyond the DRC, Smiths has
evolved its responsible minerals program and related due diligence practices to
address minerals originating from Conflict-Affected and High-Risk Areas
(CAHRAs) as defined by the applicable governmental authorities. Consistent with
this commitment, HatchMed aims to ensure that these minerals (Tin, Tungsten,
Tantalum, Gold and Cobalt), if contained in our products, are sourced with due
respect for human rights and in a manner that does not finance armed groups. To
achieve this objective, Smiths is guided by the Organization for Economic
Co-operation and Development (OECD) Due Diligence Guidance for Responsible
Supply Chains of Minerals from CAHRAs (OECD Guidance).
Expectations of Suppliers
HatchMed does not directly source minerals from the DRC,
adjoining countries, or any other CAFRAs. Additionally, the mines are typically
several tiers removed from us. Based on that, the cooperation of our suppliers
is crucial to support our Responsible Minerals Sourcing commitment. HatchMed applicable
suppliers are expected to:
·
Be knowledgeable and transparent about the
source of the tin, tungsten, tantalum, gold, cobalt, and any other so-called
conflict minerals in the products they supply to us and take reasonable steps
to responsibly source these minerals, especially if they are from the DRC,
adjoining countries or any other CAHRAs.
·
Establish and maintain a publicly available
policy on responsible mineral sourcing that aligns with the OECD Guidance.
·
Establish a due diligence process and
management system consistent with the OECD Guidance. • Extend the above
expectations to their own suppliers.
·
Upon HatchMed’s periodic requests, furnish
certain information that we deem reasonably necessary, including certifications
and documentation, to monitor and determine compliance with this policy.
If an established or prospective applicable supplier to HatchMed
is unable or unwilling to support HatchMed’s commitment to this policy, HatchMed
will be apt to seek alternative sourcing arrangements.