L&F Joins 'Responsible Minerals Initiative'... Strengthening ESG

Exterior view of L&F Daegu Guji Plant 3. Provided by L&F

Secondary battery material company L&F announced on the 10th that it has joined the Responsible Minerals Initiative (RMI) to ensure ethical sourcing and strengthen supply chain management of cathode material raw materials.

L&F has participated in the Responsible Cobalt Initiative (RCI) since 2016, and through this RMI membership, it will expand the scope of responsible mineral management from cobalt to all secondary battery cathode material raw materials including 3TG (tin, tungsten, tantalum, gold, which refer to conflict minerals), nickel, lithium, and manganese.

L&F's joining of RMI comes in response to recent demands from global battery and electric vehicle manufacturers for transparency and ethics in raw material procurement processes through EU battery regulations and supply chain due diligence laws.

With this RMI membership, L&F plans to introduce advanced management systems such as ▲establishing a traceability system for the origin of raw materials throughout the supply chain ▲minimizing the use of minerals from conflict and high-risk areas ▲utilizing a global risk mapping system ▲real-time supply chain monitoring. L&F explained, "Through this, we will build a supply chain risk management and sustainable supply chain management system to proactively respond to global regulations and meet the supply chain requirements of global customers."

Choi Su-an, CEO of L&F, emphasized, "ESG (Environmental, Social, and Governance) management is essential in the secondary battery industry, and transparency and ethics in raw material procurement are core competencies. Taking this RMI membership as an opportunity, we will expand the scope of core mineral management to establish an ESG-oriented supply chain management system, promote mutual growth with partners, and proactively respond to customers' ESG management demands."

In 2022, L&F became the first domestic secondary battery cathode material company to achieve the highest grade "Platinum" in the international certification of Zero Waste to Landfill (ZWTL), and received an A grade in the 2024 ESG evaluation announced by Sustainvest, a domestic ESG evaluation agency.

RMI is an international consortium established in 2008 by the Responsible Business Alliance (RBA), with participation from over 500 global companies. Through supply chain information such as smelters and refiners secured by RMI, it provides global standards to identify and manage risk factors such as environmental issues, human rights violations, and conflict support in the mineral sourcing process.

This content was produced with the assistance of AI translation services.