Risk Readiness Assessment (RRA)
The RMI recently released a new report examining the trends of RRA usage and preliminary results in its first year. The report is available here.
Risk Assessment in Raw Materials Supply Chains
Assessing social and environmental risks in raw material extraction and processing, and industry’s ability to appropriately manage such risks, remains a challenge for downstream companies due to the size and complexity of international supply chains. In addition to the difficulty of reaching suppliers beyond the first-tier supply chain levels, companies are confronted with a highly fragmented landscape of standards, initiatives and certifications related to responsible mining and minerals processing. Existing standards may focus on different issues and define varying performance and implementation requirements. Furthermore, standards cover different raw materials as well as types of mining operations.
In line with its mission, the RMI is offering the following tools to promote a common understanding of best practices and a means to consistently assess risks in the mineral supply chain:
- Standards Comparison: Compares over 50 standards commonly used in the materials value chain across 31 issue areas, distilling them into a set of benchmarked norms representative of best risk management practice in each area.
- Risk Readiness Assessment (RRA): A self-assessment tool for minerals and metals producers and processors to assess and communicate their risk management practices and performance using the benchmarked norms established in the Standards Comparison.
The Standards Comparison and RRA are designed to cover all materials and mined commodities and apply to different types of businesses along the supply chain. They are intended to appeal to a broad audience, including downstream users, producers and voluntary initiative’s stakeholders.
To access the RRA, click here.
To learn more about how the Standards Comparison and RRA work, click here.
For a summary of the RRA Methodology, please click here.
The RRA is regularly reviewed to ensure the voluntary sustainability standards, issue areas and norms used for the Standards Comparison are up to date and representative of the current landscape in the mineral supply chains. For details on the RRA review process, please click here.
To view the Risk Readiness Assessment norms for all issue areas, please see below:
- Risk Readiness Assessment for Mining Facilities
- Risk Readiness Assessment for Smelting/Refining Facilities
Benefits of Participation
For downstream companies:
- Compare the sustainability practices, standards and third-party assurance schemes used by businesses in your supply chain relatively and against the normative benchmark;
- Identify which materials and geographies are applicable to the various standards;
- Engage suppliers beyond the first supply chain tier levels, raise awareness of and encourage the adoption of progressive risk management practices.
For minerals and metals producers and processors:
- Communicate risk management practices and performance to their downstream customers;
- Compare risk management practices and performance against a benchmark based on existing best-in-class standards.
- Facilitate better understanding of sustainability practices among businesses at different points in the supply chain and encourage dialogue to achieve greater sustainability impacts;
- Encourage harmonization, equivalencies and cross-recognition of standards between voluntary initiatives, leveraging comparative strengths and avoiding “audit fatigue” where possible;
- Identify the best-in-class practices among businesses in the mining, minerals and metals supply chain and thereby inspire a "race to the top" for sustainable business performance.
For more information, please contact Leah Butler.
The RRA is currently available to RBA and RMI members as well as upstream companies (smelters, refiners, and mining). In 2019, the tool will be made available to non-member companies through a tiered pricing model.
For more information on the RRA, please contact Leah Butler.