The London Metal Exchange has set out its requirements for responsible sourcing, outlining three routes to compliance.
The requirements will be underpinned by the Organization for Economic Co-operation and Development's (OECD) due diligence guidance. The exchange's announcement on Friday October 25 follows the close of a market-wide consultation on June 30 into the introduction of responsible sourcing standards across all listed brands launched in April. The LME said it now intends to implement a proposed framework with full engagement required by 2022 but has delayed full compliance to 2023. "This is an extremely complex area, and while finding the right balance between rule-making and the pragmatism of their application...