Barrick has announced today that it will be adopting TRAC, a new global supply chain due diligence and transparency tool. The company will also serve as an inaugural member of the TRAC Leadership Group, a group of global companies that will participate in benchmarking research and share lessons learned and experience with the TRAC compliance system.
TRAC (TRACE Registered Access Code) captures and verifies a range of compliance information submitted online by applicant suppliers and other third parties. This information is then screened against international watch lists and verified to help ensure anti-bribery compliance, as well as compliance with emerging cross-border government regulations, conflict minerals reporting requirements, anti-money laundering laws and forced labor trafficking laws. TRAC was developed by TRACE, a leading, non-profit provider of anti-bribery compliance solutions.
“Barrick wants to do business with suppliers that share our global commitment to ethical business conduct,” said Mark Chappell, Barrick’s Director of Sourcing and Supplier Development. “By adopting TRAC, we will be able to enhance our due diligence practices and Barrick’s Supplier Code of Ethics program. We are pleased to be one of the inaugural companies to support the launch of this tool, which responds to a growing need for global companies to have confidence in their supply chain.“
“Barrick is on the cutting edge of addressing international anti-bribery, business transparency and due diligence issues,” said Alexandra Wrage, president of TRACE. “We applaud Barrick for its commitment as a TRAC Leadership Group member as this important platform is rolled out worldwide.”
TRAC is available through the web portal at www.tracnumber.com and is currently accessible in seven languages.