17 July 2012 - The OECD Council adopted the Supplement on Gold as part of a Revised Recommendation on the Due Diligence Guidance.
Following adoption of the OECD Due Diligence Guidance on Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas in May 2011, an OECD-hosted working group started developing a Gold Supplement, one of several supplements on specific minerals.
The five-step framework for risk-based due diligence, the model supply chain policy and the suggested measures for risk mitigation of the OECD Due Diligence Guidance already apply to gold.
The Gold Supplement tackles the unique challenges for carrying out due diligence on gold, namely: its intrinsic high-value and fungible nature; the non-linear structure of its supply chain; and, the multiple downstream uses of gold, depending on whether it is used for investment purposes, jewellery or in some other industrial product.
A first draft of the Gold Supplement was presented and discussed at the Working group meeting on due diligence in the gold supply chain on 4 May 2011. At that time, the working group constituted a Drafting Committee to revise the draft text and to build consensus and foster ownership among stakeholders. The Drafting Committee was composed of OECD and partner countries, members of the gold industry diversified throughout the supply chain, and civil society organisations.
A second draft of the supplement was presented at a meeting on 18 November 2011. The supplement was then made available to the Working Group for final comments and to the general public through an online consultation held from 5 December 2011 until 13 January 2012.
The Drafting Committee revised the draft supplement through a consensus-driven process, bearing in mind all comments received, and the working group endorsed the supplement on 2 February 2012.
The Gold Supplement was subsequently agreed upon by the OECD Advisory Group on Investment on 21 March 2012 and approved by the OECD Development Assistance and Investment Committees on 6 April 2012. The OECD Council adopted the Gold Supplement on 17 July 2012 as part of a Revised Recommendation on the Due Diligence Guidance.
Meeting of the forum on due diligence in the gold supply chain, Paris, 2-3 May 2012
2nd Working group meeting on due diligence in the gold supply chain, Paris, 18 November 2011
Working group meeting on due diligence in the gold supply chain, Paris, 4 May 2011