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Compliance with the Conflict Minerals Regulation allows the company to continue business and work activities, avoiding possible fines, penalties or blockages.
NEW BUSINESS OPPORTUNITIES
More and more companies select their suppliers on the basis of their sustainability, ethics and transparency. In particular, they require information on respect for human rights, ethical trade and the protection of the environment through declarations and certificate of conformity, such as the Conflict Minerals.
Complying with the Conflict Minerals Regulation improves the image perception of the company and its reputation, positively influencing consumer behavior and improving the positioning of the brand.
RISK OF BEING SUBJECT TO CHECKS AND PENALTIES
Non essere compliance al Regolamento Conflict Minerals può portare l'azienda ad incorrere in controlli e sanzioni definite dallo Stato in cui ha sede la società. Not being compliant with the Conflict Minerals Regulation may lead the company to incur checks and penalties defined by the State in which the company is established.
REPUTATIONAL RISK AND LOSS OF CUSTOMERS
Not being compliant leads to a decrease in brand reputation. In addition, customers and consumers are increasingly aware of what they choose: not complying with the Conflict Minerals Regulation can lead to a decrease in the company’s customer portfolio which are attracted by more ethical and sustainable competitors.
EXCeption FROM TRADE AGREEMENTS
Companies are increasingly sensitive to and attentive to sustainability issues and prepare precise procurement policies, requiring their suppliers to comply with a series of ethical, social and environmental requirements. Not being compliant with the Conflict Minerals Regulation may result in an exclusion from business relations by the company’s customers and potential customers.