Provenance blockchain company Everledger announced today, Earth Day, a range of improvements to its platform that enable sustainability credentials.
Many Everledger partners operate in the diamond, automotive and electronics sectors and use the platform to track and trace the sustainable extraction of minerals used in production. Beyond having a responsibility with customers to deliver ethically sourced products, these industries also face strict regulations set by the EU and other governing bodies. For example, the EU Taxonomy Regulation, which defines sustainable activities, and the EU Battery Legislation, which provides rules for the electric battery industry regarding carbon footprint, recycling, and labeling. As such, Everledger’s blockchain solution enables companies on the network to comply with regulatory requirements in minerals extraction and recycling.
The same technology used to ensure this compliance can be applied to assure the credibility of sustainability claims. The improved developments on the platform capture data on energy use and greenhouse gas emissions across all steps of extraction, processing, and transportation of materials in the supply chain. Additionally, new features offer sustainability badges to well-performing companies, real-time reporting, and interoperability through API connections.
Everledger’s app targets member companies and their customers alike. The app features a searchable dashboard where users can review, manage, and filter sustainability claims and evidence. Through the dashboard, companies can also share sustainable milestones with their customers.
In a broader sense, Everledger’s mission is to promote a circular economy. This involves “closed loops” in which raw materials lose as little value as possible across supply chains and the goal is to extend the life cycle of all assets indefinitely. The blockchain company is in talks with the Australian circular economy organization World’s Biggest Garage Sale to trace the “second life” of materials to hold companies accountable for their sustainability outcome.
“Accessible and defendable data is invaluable for driving down carbon emissions and the greenhouse gases that cause climate change, making accountable use of finite natural resources a reality,” said Everledger CEO Leanne Kemp. “Our platform grants our partners more visibility and control to establish responsible and ethical sourcing throughout their supply chain, in line with mounting regulation and consumer pressure.”
Consistent with the services it promotes, Everledger is a member of numerous organizations and movements. It’s part of the SME Climate Hub, committed to a 2030 Carbon Neutral pledge, and has joined the “Race to Zero” campaign, the Clean Cloud Energy group, and Responsible Travel movement.
Meanwhile, in 2019 Everledger worked alongside the World Economic Forum on a proof of concept project to prove the environmental sustainability of supply chains through blockchain. Additionally, exactly one year ago, Everledger announced a carbon offsetting platform for the diamond industry backed by China’s Tencent. Recently, the U.S. Department of Energy awarded a consortium of which Everledger is a member for blockchain-powered recycling trials for lithium-ion batteries.