L&F , a global secondary battery comprehensive materials specialist, announced that it has joined the Responsible Minerals Initiative (RMI) to strengthen ethical sourcing and supply chain management of secondary battery cathode raw materials. With this membership, L&F aims to expand the scope of core minerals, advance ESG (environmental, social, and governance) management, and further enhance competitiveness in the global supply chain.
L&F has been participating in the Responsible Cobalt Initiative (RCI) since 2016, and through this RMI membership, the scope of responsible mineral management is expanded to cover not only cobalt but also all secondary battery cathode raw materials, including 3TG, nickel, lithium, and manganese. In addition, by publishing its first Responsible Minerals Report last year, the company has been disclosing its mineral supply chain management and activities, actively encouraging the participation of business partners, and continuously taking the lead in protecting human rights and the environment.
Recently, global battery manufacturers and electric vehicle OEMs have been demanding transparency and ethics in the raw material procurement process as key criteria in order to respond to international regulations such as the EU battery regulation and supply chain due diligence law. L&F’s membership in RMI is expected to proactively respond to these demands and further strengthen partnerships with global customers.
With this RMI membership, L&F will introduce advanced management systems such as ▲establishing an origin tracking system throughout the entire supply chain ▲minimizing the use of minerals from conflict and high-risk areas ▲utilizing a global risk mapping system ▲real-time supply chain monitoring. Through this, L&F plans to establish 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.
L&F CEO Choi Soo-an emphasized, “ESG management is essential in the secondary battery industry, and transparency and ethics in raw material procurement are key competitiveness.” He added, “With this RMI membership, we will expand the scope of core mineral management, establish a supply chain management system from an ESG perspective, seek shared growth with our partners, and proactively respond to the ESG management needs of our global battery and OEM customers.”
Under the mission of being a 'global company that produces Green Energy materials that purify the Earth', L&F has been consistently practicing ESG management. In 2022, it was the first in the domestic secondary battery cathode material industry to receive the 'Platinum' grade, the highest grade of the 'Zero Waste to Landfill (ZWTL)' international certification, and transparently discloses its major achievements and strategies through the annual sustainability management report. Recently, it was recognized for its excellent performance by receiving an A grade in the '2024 ESG Evaluation' announced by SustinVest, a domestic ESG evaluation agency.
Meanwhile, RMI is a world-renowned international consultative body established in 2008 by the Responsible Business Alliance (RBA), with over 500 global companies participating. Through the supply chain information such as smelters and refineries secured by RMI, it provides global standards for identifying and managing risk factors such as environmental issues, human rights violations, and conflict support in the mineral procurement process.
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