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27.06.2024 06:30:03 - Together against child labor: dormakaba enters into a long-term partnership with Save the Children Switzerland
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dormakaba Holding AG / Key word(s): ESG
Together against child labor: dormakaba enters into a long-term partnership with Save the Children Switzerland
2024-06-27 / 06:30 CET/CEST
Rümlang, 27 June 2024 - dormakaba has agreed on a partnership with Save the Children Switzerland, part of the world's
largest independent children's rights organization. This includes financial support for a pioneering project to
overcome child labor in cobalt mining in the Democratic Republic of Congo (DRC). dormakaba is the first company in
Europe to support this project. Over a period of ten years, dormakaba will invest around one million Swiss francs to
support the project's objectives.
The partnership with Save the Children Switzerland and the related direct, long-term support of the project to fight
child labor in the DRC evolved against the background of the company's Statement of Commitment on Human Rights and a
study commissioned by dormakaba from the University of St. Gallen on the traceability of cobalt. This was published by
dormakaba in July 2023 to highlight the need for responsible supply chains and to share possible solutions with other
companies. The study's key findings show that leading experts and organizations agree that no company sourcing
electronic components can be sure that some of the cobalt in its products does not come from the DRC. This is where 70%
of the cobalt mined worldwide originates from. Human rights organizations point out that forced labor, labor
exploitation, child labor, health, and safety problems and other human rights violations can be prevalent in DRC mines.
dormakaba is aware of these issues and is committed to fighting child labor and forced labor in its supply chains as
part of its approach to sustainability and due diligence. dormakaba is the first company in Europe to support this
initiative in partnership with Save the Children Switzerland, which supports affected children and young people in
mining centers in the DRC and provides long-term remediation. The partnership is set to run for ten years. Save the
Children's subsidiary organization, The Centre for Child Rights and Business is responsible for implementing and
coordinating the project on the ground. Children and young people working in cobalt mines are reintegrated into school
or vocational training programs to afford them new opportunities. The project offers monthly living stipends, covers
all educational and possible medical costs up to the age of 16, and provides each child with a case manager who
supports the family and looks after the child's interests.
"We are thrilled to partner with Save the Children Switzerland and work with The Centre for Child Rights and
Business. The partnership reflects our commitment to tackling potential child labor in even the most remote parts
of our supply chain. It underlines our commitment to adhere to the UN Guiding Principles on Business and Human
Rights and emphasizes the importance of transparent and responsible supply chains," says Stephanie Ossenbach, Group
Sustainability Officer of dormakaba.
"We are delighted to have dormakaba as a partner who has made a long-term commitment to combating child labor in
artisanal small-scale mining. The partnership is an important step in our efforts to provide children around the
world with protection and access to quality education," says Adrian Förster, CEO of Save the Children Switzerland.
"We welcome dormakaba's commitment to be part of the solution when it comes to child labor. Together, we are
tackling the challenges of artisanal small-scale mining directly and sustainably and offering children in the DRC
the chance for a better future," adds Ines Kaempfer, CEO of The Centre for Child Rights and Business.
About Save the Children Switzerland
Every child deserves a future - whether in Switzerland or around the world. With this conviction, Save the Children
Switzerland has been uncompromisingly and tirelessly supporting the most disadvantaged children since 2006. Save the
Children has been the world's leading children's rights organization since 1919. Thanks to our local roots in 120
countries, we know the situation on the ground, adapt our projects accordingly, and can help immediately in an
emergency. In Switzerland, we have been helping refugee children since 2015.
About The Centre for Child Rights and Business
The Centre is a social enterprise that supports and advises leading international companies in implementing children's
rights, ESG, and human rights due diligence to deliver improvements within their supply chains and yield positive
business outcomes.
About cobalt mining in the DRC
In the mining centers of the DRC, in addition to numerous official large-scale mines in the country, there are also
many independent small-scale mines in which the mining work is only carried out manually (artisanal small-scale
mining). These small-scale mines provide a livelihood for around 200,000 people and account for 10-30% of the world's
cobalt supply. The cobalt from these small-scale mines often ends up in the supply chain of larger mining companies. As
many people in artisanal small-scale mining are affected by extreme poverty, a lot of children drop out of school to
work there or do so to pay for school and supplement household income. Some estimates suggest that up to 40,000
children work in the mines in the DRC. Working in this sector exposes children to extreme danger, long-term health
risks, exploitation, and a cycle of perpetual poverty.
More about dormakaba's approach and initiatives on human rights topics: Human Rights - Annual Report 2022/23.
Further information for:
===
Download Section
Media Release (PDF)
Save the Children Logo (with transparent background)
General Disclaimer
This communication contains certain forward-looking statements including, but not limited to, those using the words "believes", "assumes", "expects" or formulations of a similar kind. Such forward-looking statements reflect the current judgement of the company, involve risks and uncertainties and are made on the basis of assumptions and expectations that the company believes to be reasonable at this time but may prove to be erroneous. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks, uncertainties and other factors outside of the company's and the Group's control which could lead to substantial differences between the actual future results, the financial situation, the development or performance of the company or the Group and those either expressed or implied by such statements. Except as required by applicable law or regulation, the company accepts no obligation to continue to report, update or otherwise review such forward-looking statements or adjust them to new information, or future events or developments. This communication does not constitute an offer or an invitation for the sale or purchase of securities in any jurisdiction. dormakaba®, dorma+kaba®, Kaba®, Dorma®, Ilco®, LEGIC®, Silca®, BEST® etc. are registered trademarks of the dormakaba Group. Due to country-specific constraints or marketing considerations, some of the dormakaba Group products and systems may not be available in every market.
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End of Media Release
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Hofwisenstrasse 24
8153 Rümlang
Switzerland
End of News EQS News Service
===
1934179 2024-06-27 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1934179&application_name=news
END) Dow Jones Newswires
June 27, 2024 00:30 ET (04:30 GMT)
dormakaba Holding AG / Key word(s): ESG
Together against child labor: dormakaba enters into a long-term partnership with Save the Children Switzerland
2024-06-27 / 06:30 CET/CEST
Rümlang, 27 June 2024 - dormakaba has agreed on a partnership with Save the Children Switzerland, part of the world's
largest independent children's rights organization. This includes financial support for a pioneering project to
overcome child labor in cobalt mining in the Democratic Republic of Congo (DRC). dormakaba is the first company in
Europe to support this project. Over a period of ten years, dormakaba will invest around one million Swiss francs to
support the project's objectives.
The partnership with Save the Children Switzerland and the related direct, long-term support of the project to fight
child labor in the DRC evolved against the background of the company's Statement of Commitment on Human Rights and a
study commissioned by dormakaba from the University of St. Gallen on the traceability of cobalt. This was published by
dormakaba in July 2023 to highlight the need for responsible supply chains and to share possible solutions with other
companies. The study's key findings show that leading experts and organizations agree that no company sourcing
electronic components can be sure that some of the cobalt in its products does not come from the DRC. This is where 70%
of the cobalt mined worldwide originates from. Human rights organizations point out that forced labor, labor
exploitation, child labor, health, and safety problems and other human rights violations can be prevalent in DRC mines.
dormakaba is aware of these issues and is committed to fighting child labor and forced labor in its supply chains as
part of its approach to sustainability and due diligence. dormakaba is the first company in Europe to support this
initiative in partnership with Save the Children Switzerland, which supports affected children and young people in
mining centers in the DRC and provides long-term remediation. The partnership is set to run for ten years. Save the
Children's subsidiary organization, The Centre for Child Rights and Business is responsible for implementing and
coordinating the project on the ground. Children and young people working in cobalt mines are reintegrated into school
or vocational training programs to afford them new opportunities. The project offers monthly living stipends, covers
all educational and possible medical costs up to the age of 16, and provides each child with a case manager who
supports the family and looks after the child's interests.
"We are thrilled to partner with Save the Children Switzerland and work with The Centre for Child Rights and
Business. The partnership reflects our commitment to tackling potential child labor in even the most remote parts
of our supply chain. It underlines our commitment to adhere to the UN Guiding Principles on Business and Human
Rights and emphasizes the importance of transparent and responsible supply chains," says Stephanie Ossenbach, Group
Sustainability Officer of dormakaba.
"We are delighted to have dormakaba as a partner who has made a long-term commitment to combating child labor in
artisanal small-scale mining. The partnership is an important step in our efforts to provide children around the
world with protection and access to quality education," says Adrian Förster, CEO of Save the Children Switzerland.
"We welcome dormakaba's commitment to be part of the solution when it comes to child labor. Together, we are
tackling the challenges of artisanal small-scale mining directly and sustainably and offering children in the DRC
the chance for a better future," adds Ines Kaempfer, CEO of The Centre for Child Rights and Business.
About Save the Children Switzerland
Every child deserves a future - whether in Switzerland or around the world. With this conviction, Save the Children
Switzerland has been uncompromisingly and tirelessly supporting the most disadvantaged children since 2006. Save the
Children has been the world's leading children's rights organization since 1919. Thanks to our local roots in 120
countries, we know the situation on the ground, adapt our projects accordingly, and can help immediately in an
emergency. In Switzerland, we have been helping refugee children since 2015.
About The Centre for Child Rights and Business
The Centre is a social enterprise that supports and advises leading international companies in implementing children's
rights, ESG, and human rights due diligence to deliver improvements within their supply chains and yield positive
business outcomes.
About cobalt mining in the DRC
In the mining centers of the DRC, in addition to numerous official large-scale mines in the country, there are also
many independent small-scale mines in which the mining work is only carried out manually (artisanal small-scale
mining). These small-scale mines provide a livelihood for around 200,000 people and account for 10-30% of the world's
cobalt supply. The cobalt from these small-scale mines often ends up in the supply chain of larger mining companies. As
many people in artisanal small-scale mining are affected by extreme poverty, a lot of children drop out of school to
work there or do so to pay for school and supplement household income. Some estimates suggest that up to 40,000
children work in the mines in the DRC. Working in this sector exposes children to extreme danger, long-term health
risks, exploitation, and a cycle of perpetual poverty.
More about dormakaba's approach and initiatives on human rights topics: Human Rights - Annual Report 2022/23.
Further information for:
Investors Media Swetlana Iodko Schoordijk Patrick Lehn Head Investor Relations Press Officer T: +41 44 818 90 28 T: +41 44 818 92 86 swetlana.iodko@dormakaba.com patrick.lehn@dormakaba.com
===
Download Section
Media Release (PDF)
Save the Children Logo (with transparent background)
General Disclaimer
This communication contains certain forward-looking statements including, but not limited to, those using the words "believes", "assumes", "expects" or formulations of a similar kind. Such forward-looking statements reflect the current judgement of the company, involve risks and uncertainties and are made on the basis of assumptions and expectations that the company believes to be reasonable at this time but may prove to be erroneous. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks, uncertainties and other factors outside of the company's and the Group's control which could lead to substantial differences between the actual future results, the financial situation, the development or performance of the company or the Group and those either expressed or implied by such statements. Except as required by applicable law or regulation, the company accepts no obligation to continue to report, update or otherwise review such forward-looking statements or adjust them to new information, or future events or developments. This communication does not constitute an offer or an invitation for the sale or purchase of securities in any jurisdiction. dormakaba®, dorma+kaba®, Kaba®, Dorma®, Ilco®, LEGIC®, Silca®, BEST® etc. are registered trademarks of the dormakaba Group. Due to country-specific constraints or marketing considerations, some of the dormakaba Group products and systems may not be available in every market.
-----------------------------------------------------------------------------------------------------------------------
End of Media Release
-----------------------------------------------------------------------------------------------------------------------
===
Language: English Company: dormakaba Holding AG
Hofwisenstrasse 24
8153 Rümlang
Switzerland
Phone: +41 448189011 E-mail: info@dormakaba.com Internet: https://www.dormakabagroup.com ISIN: CH0011795959 Listed: SIX Swiss Exchange EQS News ID: 1934179
End of News EQS News Service
===
1934179 2024-06-27 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1934179&application_name=news
END) Dow Jones Newswires
June 27, 2024 00:30 ET (04:30 GMT)
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
DORMAKABA HLDG NA.SF 0,10 | 898080 | Hamburg | 0,000 | 30.06.24 13:38:15 | ±0,000 | ±0,00% | 0,000 | 0,000 | 0,000 | 619,000 |
