Yesterday Norway’s Hydro announced it is piloting the DNV blockchain “Tag. Trace. Trust.” service to provide evidence of its sustainability claims for the aluminium it produces. The firm has a market capitalization of $11.7 billion and had revenues of $17.5 billion in 2019. One of the world’s largest mining firms, Rio Tinto, also launched a blockchain traceability solution for aluminium less than a month ago.
“The aim of the pilot is to test a platform that supports manufacturers and brands to back their sustainability claims with verified data. This will allow them to trace the metal from the factory gates until it reaches the customer,” said Bjørn Kjetil Mauritzen, Head of Sustainability in Hydro.
Hydro CIRCAL is its recycled aluminium brand made with a minimum of 75% recycled aluminium. The pilot involves Vestre, which uses Hydro CIRCAL to produce urban furniture such as benches, tables and litter bins with a commitment to sustainability. The aim is for someone to instantly see the traceability evidence of the aluminium used in a park bench and the CO2 emission from the raw material. Anyone can scan a barcode on the side of the bench to retrieve the blockchain data.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
