Assent Compliance’s Travis Miller and Jared Connors join us as they discuss their work in conflict minerals supply chains, how ESG compliance plays a role, what companies should do to interpret data and increase efficiency and recovery, and the future of risk management.
ESG Supply Chain Compliance with Travis Miller and Jared Connors:
Key points discussed in the episode:
Companies are starting to realize the significance of making a commitment to ESG through responsible sourcing.
Outsourcing usually occurs in the most regulated, most dangerous, and least profitable businesses.
Business continuity planning is crucial in risk management, more flexible disaster response, and efficient operations. Aside from environmental and social, risk is also a financial concern.
The most important letter of ESG is P – product, people, and policies. Middle-aged workers are the most vulnerable and highly targeted in inhumane business practices and violations.
Dig deeper into organizations and understand their commitments to mitigate and prepare for risk.
Non-financial risks are pressuring investor disclosures.
ESG is reorienting the global market and the world. Large-scale environmental and social scandals ruin reputation and business.
Educating the supply chain contributes to overall company efficiency and risk management.
Compliance toolkits should be utilized even outside the company. The legal space has become the ideal practice ground for compliance.
Companies should be proactive in detecting supply chain issues internally.
Translate technical speak to an executive language to gain interest from the C-level suite.
Assess supply chain maturity.
Companies are now compelled to make a change due to their global influence. Consumers’ cries for environmental and social accountability are now heard – all thanks to social media.
Jared Connors is a senior subject matter expert on Corporate Social Responsibility at Assent Compliance, the worlds’ leader in supply chain data management.
His expertise involves achieving ESG goals by understanding and mitigating potential supply chain risk, the transition from CSR to ESG, how companies can take a holistic approach to ESG, and ESG-related regulations, such as those pertaining to human trafficking and slavery, conflict minerals, and anti-bribery, anti-corruption.
Travis Miller is General Counsel at Assent Compliance. He manages Assent’s worldwide legal activities, advises the Board of Directors on legal matters, and oversees corporate compliance, governance initiatives, and other commercial transactions. Before coming to Assent, he served in various high-level counsel positions with companies such as Microchip Technology, Foresite Group, and St. Jude Medical.
Resources
Assent Compliance on Twitter
Assent Compliance on LinkedIn
Jared on Linkedin
Travis Miller on Linkedin
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Tag: Assent Compliance
In today’s ESG Report, Tom Fox is pleased to be joined by supply chain risk management professional extraordinaire, Jared Connors. They’re discussing the work done at Assent Compliance Inc., one of the leading organizations in supply chain sustainability management.
Becoming a Leader in the World of ESG
Assent has worked on a variety of regulations to support its clients’ compliance journeys, including substance and modern slavery regulations. Within that context, there are often reputational impacts of compliance. At Assent, the natural extension is to encourage customers to assess their suppliers’ abilities to support and adhere to these regulations.
The Impact of the Conflict Minerals Regulation
The Conflict Minerals Regulation was one of the first regulations to promote greater transparency of the upstream supply chain and is a pioneering regulation that’s driven companies to look beyond their Tier 1 suppliers. According to Jared, the Conflict Minerals Regulation isn’t just about source of origin verification, but also about chain of custody.
Reputational Damage
Jared tells a story that highlights the significance of reputational damage, and how it can facilitate an organization’s downfall, “This started out with reputational impacts and led to a lot of other tangible risks from a monetary perspective.”
Direct and Indirect Engagement
Directly engaging suppliers involves asking them about internal controls, management procedures, and their ability to provide metrics on certain topics. This, however, is insufficient, and therefore, indirect evaluation is required. “You can’t just look at the first level,” says Jared, “You have to get deeper.” These further evaluations are necessary to understand if suppliers can “walk that talk”, because that should have huge implications in doing business with them.
RESOURCES
Tom Fox’s email
Jared Connors | LinkedIn | Assent
In this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I have explored the market impacts of emerging regulations on supply chain compliance and the supply chain professional. During the course of this series, I visit with several members of the Assent team to introduce the topic, look at Human Trafficking and Slavery (HTS), supply chain risk management programs, CSR value propositions, the current state of responsible mineral sourcing and where all of this is headed. In this fifth and concluding episode, I visit with Jonathan Hughes, Director, Strategic Relationships at Assent Compliance. We considered how the market impacts are driving the need for more technology-based solutions for supply chain management.You can check out more about Assent Compliance Inc. at their website, by clicking here.
In this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I explore market impacts of emerging regulations on supply chain compliance and the supply chain professional. During the course of this series, I visit with several members of the Assent team to introduce the topic, look at Human Trafficking and Slavery (HTS), supply chain risk management programs, CSR value propositions, the current state of responsible mineral sourcing and where all of this is headed. In this fourth episode, I visit with Jared Connors, subject matter expert for Assent Compliance on Corporate Social Responsibility (CSR) on the current state of conflict minerals/responsible minerals. Join us tomorrow where we wrap us this series on emerging regulatory areas in a conversation with Jonathan Hughes. You can check out more about Assent Compliance Inc. at their website, by clicking here.
In this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I explore market impacts of emerging regulations on supply chain compliance and the supply chain professional. During the course of this series, I visit with several members of the Assent team to introduce the topic, look at Human Trafficking and Slavery (HTS), supply chain risk management programs, Corporate Social Responsibility (CSR) value propositions, the current state of responsible mineral sourcing and where all of this is headed. In this episode, I visit with Sarah Carpenter, Manager, Business and Human Rights for Assent Compliance on the value proposition of CSR for corporations. Join us tomorrow where we consider the current state of conflict minerals/responsible minerals with Jared Connors? You can check out more about Assent Compliance Inc. at their website, by clicking here.
In this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I explore market impacts of emerging regulations on supply chain compliance and the supply chain professional. During the course of this series, I visit with several members of the Assent team to introduce the topic, look at Human Trafficking and Slavery (HTS), supply chain risk management programs, CSR value propositions, the current state of responsible mineral sourcing and where all of this is headed. In this second episode, I visit with Jared Connors, subject matter expert for Assent Compliance on Corporate Social Responsibility (CSR) on how to institute a broader supply chain risk management program. Join us tomorrow where we ask, ‘what’s your CSR value proposition’? You can check out more about Assent Compliance Inc. at their website, by clicking here.
In this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I explore market impacts of emerging regulations on supply chain compliance and the supply chain professional. During the course of this series, I visit with several members of the Assent team to introduce the topic, look at Human Trafficking and Slavery (HTS), supply chain risk management programs, CSR value propositions, the current state of responsible mineral sourcing and scaling up to meet future challenges. In episode one, I visit with Kate Dunbar, subject matter expert for Assent Compliance in HTS on the current and evolving HTS landscape. Join us tomorrow where provide an overview of instituting a broader supplier risk management program. You can check out more about Assent Compliance Inc. at their website, by clicking here.
During this five-part podcast series, sponsored by Assent Compliance Inc. (Assent), I have explored market access for supply chain data. I have visited with several Assent team members to introduce the topic, consider what market access is, provide an overview of trade compliance, Federal Acquisition Register (FAR) flow downs, the value of continuous monitoring and the origins of laws impacting market access. In this fifth and final episode, James Calder, Vice-President of Compliance and Regulatory Programs, and I discuss how chemical and product compliance impacts access to markets and supply chain compliance. You can check out more about Assent Compliance Inc. at their website, by clicking here.
