A regulatory term referring to a combination of voluntary due diligence procedures, tools and mechanisms, developed and overseen by governments.
Industry or multi-stakeholder initiative is part of the formal vocabulary used in supply-chain due diligence, adverse-impact governance, and corporate responsibility. For this glossary, the key point is understanding how the source defines the term and where that definition sits within broader compliance or data requirements.
Directive (EU) 2024/1760 on corporate sustainability due diligence
a combination of voluntary due diligence procedures, tools and mechanisms, developed and overseen by governments, industry associations, interested organisations, including civil society organisations, or groupings or combinations thereof, that companies may participate in in order to support the implementation of due diligence obligations;
Reference: Article 3, point j
In practice, this term matters when mapping who is responsible for obligations, declarations, market placement, recordkeeping, or due-diligence steps within supply-chain due diligence, adverse-impact governance, and corporate responsibility.
For Minespider, industry or multi-stakeholder initiative is best treated as a responsibility and workflow term. The important question is which actor, document, or compliance step the source is actually assigning through this definition.