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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 has developed a Supplement on Gold, one of several supplements on specific minerals which form an integral part of the guidance.
Development of the Gold Supplement
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 on Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas already apply to gold.
The Supplement on Gold aims to tackle the unique challenges for carrying out due diligence on gold which relate to 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 Supplement on Gold was presented and discussed at the first meeting of the OECD-hosted working group on gold 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 is composed of OECD and partner countries, members of the gold industry diversified throughout the supply chain, and civil society organisations.
The Drafting Committee presented a second draft of the supplement at the following meeting of the working group on gold on 18 November 2011. The supplement was then opened for final comments from the working group, 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 has subsequently been 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 supplement will be considered for final adoption by OECD Council in mid 2012 as part of a Revised Council Recommendation on Due Diligence Guidance.
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