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On May 24, commodity trading and mining company Glencore pleaded guilty to a decades-long bribery and corruption scheme that spanned Africa and South America.
Separately, Glencore also admitted to manipulating oil prices. In response, Assistant U.S. Attorney General Kenneth A. Polite Jr. said, “Glencore undermined public confidence by creating a false appearance of supply and demand to manipulate oil prices.” Stated. according to to the U.S. Department of Justice.
To settle the charges, Glencore agreed to pay the U.S. government $1.1 billion in fines and forfeiture. The guilty plea was part of a coordinated settlement with criminal and civil authorities in the UK, Brazil and the US.
Still, this ruling fell short of the International Corporate Accountability Roundtable (ICAR).this said An investigation and ruling failed to hold Glencore accountable for its most heinous crimes.
Acknowledging the abuse that mining can entail, Tesla vowed to the public through 2021 impact report It goes without saying that you should avoid using companies that engage in shady business deals.
“The mining industry plays a key role in the transition to sustainable energy and we work with our suppliers to ensure that mining is done in a responsible manner. …Tesla is the Responsible Mining Assurance (IRMA) initiative to use IRMA standards and other internationally recognized responsible mining standards for due diligence.”
among them 2019 Impact ReportTesla publicly stated that “Tesla is aware of the high risk of human rights issues within its cobalt supply chain” and has introduced policies to “remove these risks from its supply chain”.
Despite the guarantee, Glencore is one of Tesla’s primary cobalt suppliers, 6,000 tons per year Tesla electric car battery.
Tesla’s words
among them 2021 Impact ReportTesla provided impressive detail when discussing its approach to ensuring its suppliers act with integrity.
“Tesla is committed to our suppliers operating responsibly. We do this by proactively identifying and addressing potential risks in our supply chain. Tesla Supplier Code of Conduct, Human Rights Policy , the Responsible Materials Policy outlines Tesla’s expectations of its suppliers.”
Specifically, the report says Tesla collects data on companies supplying minerals such as cobalt, nickel and lithium and works with suppliers to ensure mining practices among them.
Additionally, Tesla recognizes that raw materials are often concentrated in countries facing socio-economic challenges, so where possible, Tesla will ensure responsible and humane mining conditions. We use direct source mining to help us. As part of our agreement with Tesla, our mines agree to binding contracts with environmental and social requirements.
Tesla also confirms that 83% of its own refiners and mine sites, plus 100% of its directly sourced refiners, have undergone an “independent external sustainability audit” or have undergone a process to do so. said to be in
These audits confirm that each company meets good practices initiative Set by organizations such as the Initiative for Responsible Mining Assurance.
according to it 2021 Impact ReportGlencore has completed all required audits and assessments.
Corruption and Human Rights Violations
Glencore’s entanglement with the May 24th Act is just one example of a long list of double-dealing and corruption allegations dating back 20 years.
for example, year 2012environmental justice and human rights groups, Global Witness, began to examine the link between Glencore and corruption in the Congolese mining trade. It turns out that Glencore was using its ties with Israeli billionaire Dan Gertler and then-President of the Democratic Republic of the Congo (DRC) Joseph Kabila to make lucrative mining deals.
“Glencore pumped over $500 million worth of cash, loans and equity into Gertler-owned offshore companies, which enabled him to earn at least $67 million in risk-free profits. .”
In 2017, offshore legal giant Appleby became the center of controversy when hackers leaked to reporters more than 13.4 million sensitive electronic documents related to offshore investments.
Among other things, the Global Witness-like “Paradise Papers” Alleged Glencore used Gertler to negotiate mining rights deals in the DRC;
In late 2017, the U.S. Treasury Department Licensed Gertler on allegations that he used his relationship with Kabila to sell mining assets in the DRC at his advantage.
In 2018, IndustriALL, a global union representing 50 million mining and energy workers in 140 countries, Investigation For widespread human rights violations in Glencore’s mining operations. When officials attempted to meet with the local union at Glencore Mine, the company denied them access and threatened arrest.
Case study from the Environmental Justice Atlas, 2019 Alleged Glencore, through its subsidiary in the Democratic Republic of the Congo, was involved in forced child labor, tax evasion and water pollution. The case is still “in production”.
2021 Transition Mineral Tracker analysisthe human rights group, Business and Human Rights Resource Center, said, “Globally, Glencore has the worst record” of companies involved in the transition to “net-zero” mineral extraction.
“It is the most [human rights abuse] Claims in Africa, second highest in Asia Pacific and third highest in South America.”
But perhaps the most criticized Department of Justice After Glencore pleaded guilty to charges of corruption, bribery and market manipulation.
“The foreign bribery case involved Glencore International AG and its subsidiaries bribing corrupt brokers and foreign public officials in seven countries over a period of more than ten years. It undermined public confidence by creating a false appearance of supply and demand to manipulate.”
Damian Williams, U.S. Attorney for the Southern District of New York, added: Glencore paid bribes to secure oil contracts. Glencore paid bribes to avoid government audits. Glencore bribed the judge to get the lawsuit to disappear. At its core, Glencore paid bribes and paid hundreds of millions of dollars to make money. And he did so with the approval, even encouragement, of his top officials. ”
The above allegations, guilty confessions, and the fact that the agency has been pointing out corruption and human rights violations at Glencore for 20 years confirm that Tesla goes to great lengths to ensure responsibly sourced minerals. contradicts the statement of
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Katie covers energy and politics for The Epoch Times. Before beginning her journalistic career, Katie proudly served in the Air Force as an Airborne Operations Technician for JSTARS. She holds a degree in Analytic Philosophy and a minor in Cognitive Studies from the University of Colorado. Her articles on Katie have appeared on CNSNews.com, The Maverick Observer, The Motley Fool, First Quarter Finance, The Cheat Sheet, and her Investing.com. Email [email protected].
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