Hydro ties with DNV GL to use the blockchain to verify sustainability data
- Per Bjørn Kjetil Mauritzen, this pilot aims to help manufacturers back their sustainability claims.
- Through the Tag. Trace. Trust platform customers will be able to get key sustainability data.
- Hydro intends to launch a standardised version of the platform before the end of 2021.
Hydro, an industrial company that seeks to create a more sustainable future through innovation, has joined hands with Norway-based DNV GL, an independent expert in assurance and risk management in a blockchain deal. A report unveiled this news on March 1, noting that the two firms seek to run a blockchain trial to document product representations for Hydro CIRCAL and Hydro REDUXA. Reportedly, this pilot seeks to increase transparency around the carbon footprint created by Hydro’s materials and production process.
According to the report, the world is increasingly focusing on more sustainable products, standards, and products. As such, manufacturers across the globe are striving to provide their customers with facts that would help them make greener purchase decisions. To this end, Hydro decided to test the sustainability of its products by integrating DNV GL’s blockchain-based service dubbed Tag. Trace. Trust. Through this integration, Hydro’s clients will be able to check the validity, data, and authenticity of a product’s environmental data.
Working with a furniture maker to verify the sustainability of aluminium
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DNV GL and Hydro will work with Vestre, a renowned furniture maker that uses Hydro CIRCAL in some of its furniture. Elaborating how this functionality would work, Lin Jacobsen Hammer, the manager of business development and sustainability at DNV GL-Business Assurance, said the Tag. Trace. Trust platform would issue Hydro’s aluminum products with a unique digital ID. Through this digital ID, Vestre will be able to get sustainability information, such as CO2 emission, the amount of carbon in the product, and the post-consumer scrap content in the aluminium.
After this pilot, Hydro allegedly intends to review the overall experience to decide on whether it can implement a standardised model of the Tag. Trace. Trust platform. Should everything run smoothly, Hydro seeks to launch this platform to its users before the end of the year.
According to the Hydro’s project lead, Jørgen Hansson, this pilot comes after Hydro has been working on producing greener brands over the past few years. Through it, the company hopes to explore how the blockchain can provide the market and the conscious consumer with key data as a part of its agenda to foster sustainability.