Multistakeholder action platform the Fair Cobalt Alliance (FCA) has welcomed Netherlands-based insurer AnsvarIdéa to its membership.
The FCA is committed to developing responsible and fair supply of artisanal mined cobalt from the Democratic Republic of Congo (DRC), while AnsvarIdéa is the first company not directly involved in the cobalt production supply chain to join the FCA.
FCA executive director Dr Assheton Carter says AnsvarIdéa “can be proud” to be the first company outside the immediate cobalt supply chain and the first insurer to join and support the FCA.
“In doing so, it joins the pioneers who have taken a bold step in assuming responsibility and making investments, in line with our shared belief that responsible business starts with taking responsibility.”
He adds that AnsvarIdéa’s commitment to the FCA is evidence that companies in the wider cobalt value chain acknowledge the challenges that the artisanal and small-scale mining (ASM) sector faces and recognise the role of collaborative action and positive impact to drive a fairer cobalt supply.
AnsvarIdéa CEO Peter van Geijtenbeek says that, as a sustainable insurer, AnsvarIdéa is constantly looking for opportunities to make a difference. “Electric vehicles [EVs] have a different energy source and technology and therefore also different risks. As one of the market leaders in EV insurance, we have developed a special EV insurance policy this year to address these risks.”
He adds that AnsvarIdéa realises that the electrification of the vehicle fleet is essential for the creation of a sustainable society and that cobalt mining will remain necessary for the foreseeable future.
“As the cobalt supply chain is not transparent, you do not know whether and, if so, how much of the cobalt in your battery comes from ASMs,” says Van Geijtenbeek. He adds that, in this sense, customers who buy EVs seemingly undermine their own sustainability ambitions, and by insuring these cars, AnsvarIdéa would be undermining theirs.
“As their insurer, we feel partly responsible for this, and we want to contribute to addressing and perhaps eventually even solving these complex issues,” he says.
Further, AnsvarIdéa’s partnership and support of the FCA is compliant with the Organisation for Economic Cooperation and Development’s guidelines and contributes to some of the United Nations Sustainable Development Goals (SDGs).
The SDGs it pertains to include SDG 1 – no poverty, 3 – good health and wellbeing, 4 – quality education, 6 – clean water and sanitation, 7 – affordable and clean energy, 8 – decent work and economic growth, 12 – responsible consumption and production, 13 – climate action and 17 – partnerships for the goals.