Netsol’s policy on conflict minerals
Netsol’s procurement policies are designed to develop mutually beneficial and trusting relationships with our business partners around the world based on the concepts of fairness, coexistence, transparency, and co-prosperity. We have thus committed ourselves to maintain high ethical standards and a social conscience, and have declared that we will conduct our procurement activities in strict compliance with both the letter and spirit of laws and regulations in every country and region in which we operate.
We consider the conflict mineral problem to be a major issue in terms of socially responsible procurement. It is our policy not to use conflict minerals in the Democratic Republic of the Congo (DRC) or adjoining countries which use the profits from the sale of the conflict minerals in order to fund armed groups that engage in human rights abuses.
In line with the foregoing policy, Netsol will continue to take the following actions. Netsol requests that its suppliers read and follow its Procurement Guidelines and the Netsol Supplier Code of Conduct. We will take additional opportunities to explain and gain understanding of its suppliers about actions it takes to keep conflict minerals out of its products. Netsol is not required to report to the US Securities and Exchange Commission the use of conflict minerals, as defined in the final rules of Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). However, Netsol is implementing supply chain due diligence by using a standardized reporting tool available from the Conflict-Free Sourcing Initiative (CFSI). If, in the future, a more effective means of carrying out conflict mineral due diligence is established, Netsol and its suppliers will adopt it.
To ensure that minerals are procured only from smelters and refiners that have been found to be compliant with the Conflict-Free Smelter (CFS) Program of the CFSI, Netsol requests smelters and refiners to obtain proof of compliance via the supply chain.
Written by – NETSOL Co., Ltd.