LAUNCH OF RESPONSIBLE COMMODITIES SOURCING INITIATIVE (RECOSI)
Published on February 27, 2024
London, UK – We are pleased to announce the launch of the Responsible Commodities Sourcing Initiative (RECOSI), a global not-for-profit organisation working to improve responsible commodity sourcing and supply chain management.
RECOSI has been established by a group of major European utilities who recognise that by working together they can have a much greater impact on improving the sustainability performance of their commodities supply chains.
Operating for over a decade as Bettercoal, the organisation has expanded and diversified to meet the changing needs of its members. RECOSI will continue to operate the Bettercoal Programme, alongside other sector-specific programmes, starting with the RECOSI Gas programme.
Frank Plümacher, Chairman of the RECOSI Board, welcomed today’s launch, stating: “Members recognise the value of RECOSI in their due diligence processes, helping them to meet the evolving regulatory requirements, and serving as a vital tool for informed and responsible sourcing decisions”.
RECOSI develops sector-specific assessment and assurance programmes that monitor and evaluate ESG performance, informed by stakeholder input during the assessment process, and third-party verification being at the core of our work. RECOSI’s 12 Guiding ESG Principles provide the foundation for the development of each sector programme.
Building on over a decade of experience in undertaking ESG assessments of mine sites, RECOSI has been working collaboratively with stakeholders to build the RECOSI Gas programme since 2022.
Katie Warrick, Executive Director, stated: “Through our programme expansion, we are better positioned to use our experience and expertise to support RECOSI Members and will work collaboratively across sectors to drive continuous improvement. We look forward to continuing our work to develop a standardised assurance framework for gas supply chains and paving the way for environmentally and socially conscious supply chain management.”
