GreenToken by SAP is a blockchain solution aiming to provide traceability for raw materials for recycling purposes. Major Japanese chemicals manufacturer DIC has announced plans to conduct a pilot with the SAP blockchain solution involving recycled plastic inputs. However, the use cases for GreenToken are not limited to plastics.
“Consumer awareness of the circular economy is high. This has increased demand for sustainable packaging,” says Yuji Morinaga, Executive Officer and General Manager of DIC’s Packaging Material Products Division. “Our work with the GreenToken helps substantiate environmental claims, and supports our mission to advance the recycling of plastics and build a closed-loop recycling system that employs chemical recycling.”
Something you may not realize is when you buy a product that says it’s recycled, it may only be semi-recycled. Suppose a company manufactures 1,000 items and 30% of the inputs of the raw material are recycled. In that case, it labels 300 of the 1,000 items produced as recycled if it’s using the mass balance accounting methodology.
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