What is the Extended Minerals Reporting Template (EMRT)?
The EMRT is a standardized reporting template with the capacity to disclose information on multiple minerals. Its original form replaces and combines both the previously-existing Cobalt Reporting Template (CRT) and Mica Reporting Template (MRT); over time it is expected to expand and include additional minerals as well.
What is the timeline for EMRT availability?
- Autumn 2021: EMRT finalization by the Responsible Minerals Initiative (RMI).
- Autumn/winter 2021: EMRT expedited release and general availability.
Why is the EMRT necessary? Are these disclosures required by law?
Although the declaration of other minerals (beyond tin, tantalum, tungsten, and gold, the "3TGs") is not required by regulation, an expectation for voluntary declaration and due diligence is becoming widespread across many different industries. (See also "Cobalt Reporting: if it's not required by law, why is it so important?")
As reporting for individual non-3TG minerals (such as cobalt and mica) became a more widespread expectation, an "all in one" reporting template became necessary to simplify the data collection process.
What does this development mean for the market?
Market demands for responsible sourcing are evolving and the scope of due diligence expectations continues to expand beyond 3TGs. Critical minerals such as cobalt, mica, and others are also associated with human rights abuses worldwide. Monitoring and mitigating the risk of human rights abuse is part of any robust Environmental, Social, and Governance (ESG)/Corporate Social Responsibility (CSR) due diligence program.
Downstream companies are expected to take action based on the various risks (across the ESG spectrum) identified within their supply chains. A necessary first step is monitoring the supply chain and collecting data to identify potential areas of concern. The EMRT supports this process for supply chains that include listed minerals.
This article is current as of 2021-10-07.