Created by German blockchain startup CircularTree and backed by Porsche, sustainability solution CarbonBlock has won the Global Innovation Award by Plug and Play, a Silicon Valley-based innovation platform. It was awarded as part of Startup Autobahn, a European mobility innovation program from Plug and Play.
CircularTree aims to create transparency in the supply chain and supports firms to reach sustainable development goals. CarbonBlock provides the carbon footprint of parts and materials in a supply chain, making greenhouse emissions more transparent. This is done through smart contracts that ‘digitally forward the CO2 emissions of components along the supply chain.’ This will incentivize firms to take more carbon-neutral approaches by enabling customers to compare suppliers’ carbon footprints. CarbonBlock also sets reduction targets to help companies to achieve carbon-neutral products.
Porsche organized CarbonBlock as a pilot alongside two of its suppliers, manufacturing firm Motherson and BASF. Talking to Enorm Magazine, CircularTree co-founder Gunther Walden points out that “just because a company is itself CO2-neutral, doesn’t mean its product is.” Companies can leave out vital information about their suppliers’ carbon footprint to appear more environmentally friendly. Waldon claims that often firms calculate their carbon footprints using average values. However, CarbonBlock can determine accurate values through precise tracking.
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