Together against child labor: dormakaba enters into a long-term partnership
with Save the Children Switzerland

dormakaba Holding AG / Key word(s): ESG
Together against child labor: dormakaba enters into a long-term partnership
with Save the Children Switzerland

27.06.2024 / 06:30 CET/CEST

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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
   (1)swetlana.iodko@dormakaba.com       (1)patrick.lehn@dormakaba.com  1.
   1.                                    mailto:patrick.lehn@dormakaba.com
   mailto:swetlana.iodko@dormakaba.co
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   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
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1934179 27.06.2024 CET/CEST