Foley Hoag’s unique corporate social responsibility (“CSR”) practice was launched in 2000 and provides counsel to multinational companies, governments, and multilateral institutions regarding social, political, and environmental challenges. Their advice to clients encompasses legal and reputational risk management with respect to human rights, including labor rights and the rights of indigenous peoples; the design and implementation of stakeholder engagement programs; and professional auditing services, ranging from due diligence desk-top analyses to on-the-ground human rights impact assessments and the monitoring of social, human rights, and environmental initiatives.
Foley Hoag’s blog provided an update on the legal battle regarding the proposed laws:
The extension applies to rules proposed pursuant to:
Section 1502 of the Dodd-Frank Act, which requires companies that utilize certain conflict minerals to conduct and disclose due diligence on their supply chains in order to identify whether the sourcing of these minerals is supporting the ongoing conflict in the Democratic Republic of Congo; and
Section 1504 which lays out transparency provisions requiring oil, gas, mining, and other extractive industry companies to report their payments to governments to the SEC.
Many companies and industry groups had requested an extension of the comment period because of the new and complex issues raised by the proposed disclosure provisions. CSR is a rather new theory and many companies are still adjusting to the idea of being accountable in the public’s view. I will be monitoring the legal progress made in order to boost CSR and create laws to protect our direct involvement with the Congo.