- Building up material cycles across value chains
- Transparency achieved through blockchain technology
The newly formed Circularise PLASTICS project group aims to set up an open standard for sustainability and transparency within this field. At K 2019 (Düsseldorf, October 16-23), DOMO (hall 5, booth A43) and Covestro (hall 6, booth A75) will discuss the project with customers and look for new partners to join them on this pathway towards full circularity.
“Registries and tracking systems are key to assessing progress towards global circularity goals. Blockchain can bring transparency where it's most needed, especially when it comes to supply chain traceability in our industry. Achieving a single standard for traceability to origin would enable the industry to responsibilize and communicate regarding sustainability practices and attach proof of origin to materials,” says Alex Segers, CEO at DOMO.
The partners believe that achieving traceability and transparency in the plastics supply chain enabled by blockchain will make it more authentic and transparent. There are three main objectives:
• Choose Circular: Make it easier for suppliers, processors, manufacturers, molders and brand owners to choose traceable, sustainable and circular materials.
• Produce Circular: Create incentives for suppliers and manufacturers to produce traceable, sustainable and circular materials and products.
• Make Circular: Provide critical information for reversed logistics and take back of products, materials and components.