2458 The EU's Conflict Minerals Regulation 2021 mandates that certain minerals (gold, tin, tungsten, and tantalum) be imported only from conflict-free sources. Recently, the EU introduced the "Corporate Sustainability Reporting Directive (CSRD)," which mandates ESG disclosures to ensure that investors and stakeholders have consistent, decision-relevant information on companies' environmental and social impacts (Commission, 2025). The directive is being implemented between 2024 and 2029 and will apply not only to EU-based firms but also to non-EU companies operating within the EU. Several European countries are gradually enacting laws aligned with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas and the UN Guiding Principles on Business and Human Rights. 3.2 Self-regulatory/Voluntary Imperatives In parallel with regulatory mechanisms, companies are increasingly leveraging voluntary standards as self-regulatory imperatives to differentiate their sustainability performance. Multi-sectoral initiatives and third-party assurances, such as the International Council on Mining and Metals (ICMM), the Initiative for Responsible Mining Assurance (IRMA), and the Extractive Industries Transparency Initiative (EITI), add another layer of credibility, rather than solely relying on corporate self-reporting. Mineral-specific standards such as the Copper Mark, the Aluminium Stewardship Initiative, and the World Gold Council's Responsible Gold Mining Principles assure stakeholders through independent, unbiased audits of ESG commitments. Currently, 26 member companies of ICMM adhere to its 10 gold principles spanning ethical business conduct, human rights, health and safety, and environmental and social performance (ICMM, n.d.). EITI, rooted in transparency, accountability, and good governance, guides companies and governments to disclose revenue flows and strengthen anti-corruption, gender, social, environmental, and energy transition policies (EITI, 2023). Similarly, the IRMA provides a multi-stakeholder standard that evaluates the environmental and social impacts of industrial-scale mining, based on business integrity, positive legacies, and social and environmental responsibility. Auto manufacturing giants like Tesla, Volkswagen, Ford, and Mercedes-Benz began requiring their suppliers to come from IRMA-audited mines and to hold similar certifications (IRMA, 2025). The Mining Association of Canada's Towards Sustainable Mining (TSM) is another globally recognised initiative aligned with the ICMM principles for environmental, social, and energy stewardship. Investor coalitions are also shaping this transition. The Principles for Responsible Investment (PRI), the Global Investor Commission, and allied coalitions of asset managers published a "Mining 2030" summary report as an investor-led blueprint to drive a more socially and environmentally responsible mining sector. 4. NEED FOR A RESPONSIBLE FRAMEWORK IN INDIA As global ESG expectations intensify, the absence of a responsible mining and processing framework could undermine the industry's competitiveness in India. Top 1,000 Indian listed companies (by market capitalisation) report their ESG performance through the Business Responsibility & Sustainability Reporting (BRSR) framework based on the National Guidelines on Responsible Business Conduct (NGRBC) (ICAI, 2024) However, a bulk of the mining and processing value chain consists of fragmented informal players that fall outside the regulatory rigor of reporting, thereby making it harder to trace the entire supply chain. At the same time, global buyers are strengthening their supply chain due diligence laws and want their upstream suppliers to adhere to ethical sourcing standards. India currently has no framework or mechanism to trace and verify whether minerals are sourced from conflict-free areas. This gap risks the larger integration into global value chains, particularly as international markets increasingly demand verifiable compliance. Moreover, India's participation in global frameworks such as ICMM, EITI, and IRMA is limited, with only one Indian entity, Hindustan Zinc Ltd. (HZL), having recently joined ICMM and EITI. However, these certifications are not infallible. Evidence from one of the largest copper-cobalt mines in the DRC indicates that despite obtaining Copper Mark certification, operations have significantly damaged public health and the environment, including massive community displacement (Paul, 2026). Therefore, a more
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