Moneta Holdings Limited
ETHICAL STANDARDS
Moneta Holdings Limited role as a commodity trader is similar to that of an integrator of complex
systems that have many parts which must all operate together without fail.
Current Global Landscape
Although there are no international laws governing extractive industries there are a growing number of diverse standards, all voluntary and self-enforced. There are the “Equator Principles” and “IFC performance standards” which primarily apply to financial institutions. There is the “Extractive Industries Transparency Initiative” which is more about transparency than standards. There is the US Dodd Frank Law, which focuses on conflict minerals but is not a certification system. There are the 31 “Ruggie Principles” of the UN that focus on human rights and these have been broadly adopted. There is even a Tin industry specific “iTSCi Program” that is slowly being expanded to cover other minerals.
The iTSCI Programme (Tin Supply Chain Initiative) is a joint industry membership programme designed to assist companies with traceability, due diligence and audit requirements on purchases of minerals from high risk areas as recommended in the OECD Due Diligence Guidelines and UN recommendations. The Programme aims to aid compliance with the US Dodd Frank Law and compliments other initiatives, including the CFSI's Conflict-Free Smelter audit programme (CFSP), the ICGLR's Regional Certification Initiative, and BGR's Certified Trading Chains Initiative (CTC).
We are currently investigating the possibility of becoming a signatory to the iTSCI Program.
Ethics Policy
Moneta Holdings Limited supports ethical and social responsibility standards and the drive to address ethical, environmental, human and labour rights issues in mining, production and transport of metals and minerals. Good industry practice requires certificates of origin for commodity trades. Our policy, for various reasons, is to support that practice and to avoid trading in minerals from mines in conflict zones or mines that do not have environmentally sustainable practices.
Finally, we comply with the 31 Ruggie Principles of the UN as our contracts include clauses requiring compliance with the prohibition regarding use of children, involuntary labour, human trafficked and slave labour in any part of the production supply chain from suppliers, stock-holders, miners to smelters and beyond.