Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-05-20-Speech-3-341-000"
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"en.20150520.29.3-341-000"2
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"Mr President, we all want to curtail opportunities for armed groups and break links between minerals and conflicts, but we have to do it sensibly. Unfortunately I cannot support this report because of the last-minute amendment that was pushed in to impose a mandatory – as opposed to voluntary – system.
I support a voluntary system with mandatory due diligence, as the Committee on International Trade had proposed. A mandatory approach will fundamentally damage the economy of conflict-affected areas around the world – for example, the Democratic Republic of the Congo, where mining is almost the only source of income in many areas. The Dodd-Frank Act in the USA showed the folly of a mandatory approach. It showed that it is virtually impossible to comply with such regulations, and companies in the US now avoid most of these areas completely. The end result is that very poor regions cannot sell their minerals at all or sell them to countries with no responsible sourcing schemes – completely undermining the whole idea of the legislation.
This is bad legislation: it will not deal with the real issue and all it will do is penalise the poorest people in the world."@en1
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