Most manufactured items don’t have a way of telling you what they’re made of, or where they have originated. This is an important roadblock to circularity.
Transparency on the other hand enables circular economy practices as it allows for the exchange of information that is vital for the overall functioning of a circular value chain. Thus sharing data in an open, decentralised data platform that is accessible to all stakeholders will become a key part of an increasingly more transparent and sustainable plastics industry.
In 2019, Circularise — supply chain transparency startup enabling material tracking — partnered with Domo Chemicals and Covestro to develop an implementation of its technology in the plastics industry.
The group is developing an open standard for sustainability and transparency that enables industry stakeholders to communicate regarding sustainable practices and attach absolute proof to materials. The value of having this standard developed by the industry, instead of just one or two companies is in avoiding a central powerful authority and giving equal rights to all participants.
BENEFITS FOR THE ENTIRE VALUE CHAIN
For material suppliers and processors, as well as moulders, Circularise PLASTICS’ participation means increased material value and trust in your production. For OEMs and brand owners, it helps on the road to achieving sustainability targets and a strengthened brand position, by revealing a product’s origin and transparency on its environmental impact. The objective is to create a strong consortium of companies to set an industry standard for transparency regarding e.g. recycled content and other sustainable practices.
Thomas Nuyts is an engineer and committed to a more sustainable planet. As he is currently finalising his EMBA, he is eager to build in circular solutions in business. He worked several years in commercial roles in the chemical industry. Within DOMO he is working to prepare the industry for a new age of digitalization and circularity, while monitoring the growth and product portfolio.
Jordi de Vos is an early blockchain aficionado with a business background, “temporarily” trading his MBA for real entrepreneurial experience. He starts his days by checking the latest news and FUD and has been a tireless entrepreneur since his first year of Bachelor studies.
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