After a successful certification process, a certificate which distinguishes the company as a FairMagnet supplier is awarded to the raw magnet manufacturer. According to environmental and social standards as well as initiated measures, assessed by an independent audit, certificates are awarded at four levels: bronze, silver, gold and platinum.
As a result of classification and certification of suppliers, European raw magnet importers can now check the compliance of environmental and social standards of audited and certified suppliers. Hence, they can identify suitable suppliers matching the companies CSR-guidelines.
The FairMagnet-Certificate-System is still in its early stages and may further evolve depending on specific needs of member companies.
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The picture shows an example of how a four level certificate could look like.