Responsible sourcing

Responsible sourcing

DMCC is committed to responsible sourcing and supply chain management

DMCC has played an instrumental role in ensuring that Dubai remains at the forefront of the global gold trade through the establishment of the appropriate responsible sourcing regulatory and ethical standards. These include the DMCC Practical Guidance for Market Participants in the Gold and Precious Metals Industry (the “DMCC Guidance”) and the DMCC Review Protocol, which collectively is now referred to as the DMCC Rules for Risk Based Due Diligence in the Gold and Precious Metals Supply Chain (the “DMCC Rules for RBD-GPM”).

 

 

DMCC Rules for RBD-GPM

The DMCC Rules for RBD-GPM were introduced in August 2016 as an enhanced version of the DMCC Guidance and are aligned with the globally accepted OECD Guidance and other similar international standards as confirmed by an independent benchmarking analysis report issued by SGS UK. Download copies below:

Compliance with the DMCC Rules for RBD-GPM ensures mandatory implementation of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas – Supplement on Gold (the “OECD Guidance”) for members of DMCC’s Accreditation Initiatives and voluntary implementation for other market participants.

In the global gold industry, DMCC is one of the six members of the OECD’s Multi Steering Group (the “OECD MSG”) and continues to provide recommendations for matters discussed at the OECD MSG that may impact the global implementation of the OECD Guidance.

International standards

The relevant DMCC Accreditation Initiative is recognised by the following entities:

 

Governance

The Independent Governance Committee (the "IGC") for Responsible Sourcing was established in January 2015. It provides an independent oversight role on all DMCC implementation aspects of the DMCC Rules for RBD-GPM.

 

Committee members:

 

  • Effie Marinos, SGS London, Global Technical Governance Manager, Supply Chain Assessment & Solutions (Committee Chair)
  • Matthew Keen, RG Trading, Managing Director
  • Scott Hutton, Squire Patton Boggs, Partner
  • Mitchel Hickman, UAExchange, Head - Group Enterprise Risk Management
  • Prof. Arvind Sahay, Indian Institute of Management
 

The committee objectives are

To ensure consistency, transparency and robustness of the implementation of the DMCC Rules for RBD-GPM

To uphold the integrity of the implementation process for DMCC Rules for RBD-GPM

To perform the annual review of the governance framework for implementation of the DMCC Rules for RBD-GPM

To ensure continuous improvement of the DMCC Rules for RBD-GPM

The IGC is composed of industry experts and key stakeholders representing diversity of (i) market segments; (ii) value chain market participants; and (iii) global geographies

Downloads

For further helpful information, please refer to the documents and links below