Physical commodities trading company Trafigura and responsible sourcing solutions provider Circulor announced a new agreement aimed at enabling Trafigura’s customers – particularly electric vehicle manufacturers – to track emissions across the company’s nickel and cobalt supply chains.
Jeremy Weir, Trafigura’s Executive Chairman, and CEO, said:
“Today’s agreement is an important next step in improving transparency in commodity markets, and will enable us to offer our customers responsibly-sourced commodities, with a clearly-defined carbon specification.”
According to the companies, under the new agreement, the initiative will include the development of an innovative program to track dynamically and attribute CO2 emissions throughout Trafigura’s supply chains. Trafigura is also working with Circulor on its responsible sourcing and traceability program, including the physical tracking and tracing of material, as well as the communication of relevant Environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More data, using Circulor’s Blockchain traceability platform.
Douglas Johnson-Poensgen, Founder and CEO of Circulor, said:
“Our mission is to bring greater transparency to the most complex industrial supply chains, in order to prevent the exploitation of people and planet. By working with the world’s pre-eminent metals trader at this scale, we can together establish a new benchmark for responsible and sustainably sourced battery materials.”
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