Speaking with the Investing News Network at Cathodes 2017, Nicholas Garrett, CEO of RCS Global, and Harrison Mitchell, director of RCS Global, shared their thoughts on the responsible sourcing of raw materials for the lithium-ion battery industry.
The transition from fossil fuels to clean energy may not be without consequences for the environment and communities, they said. Mining companies are falling under more scrutiny, and as demand for raw materials increases, they will need to ensure their sourcing is both ethical and responsible.
“Over time we will see a division in the market between those companies that will be able to demonstrate they are following responsible sourcing practises and those that are not, and that will have an impact on market demand from those companies,” Mitchell said, explaining what the consequences will be for those who decide not to follow these practises.
“Producers will need to wake up to the fact that they will need to demonstrate that they are sourcing in a responsible way [and not just say that they are],” he continued.
“The important thing is that robust due diligence systems are being implemented by the players in the markets that are committed to responsible sourcing so they can ensure the integrity of their supply chain,” Garrett added.
Watch the video above to hear more about responsible sourcing and how companies are adapting to challenges in the industry. The transcript for this interview will be added shortly.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.