Victor Andersson, CEO and co-founder of ChainTraced, took the stage at Elmia Subcontractor 2022 to shares three top challenges when it comes to decarbonization within the metallic value chain and how you can address them.
As the world continues to grapple with climate change and ongoing environmental challenges, the need to increase data accuracy, standardization, and understanding of emission sources to improve sustainability is crucial.
In his presentation Andersson outline three main challenges of decarbonization within the metallic value chain:
A lack of willingness to exchange data due to risk of privacy breach.
The absence of standardized data and frameworks to allow a consistent reporting of CO2 emissions by all stakeholders.
Missing efficient and accurate tools to support SME´s to accurately report emissions data.
The benefits with a digital solution
In order to address these challenges, Andersson highlighted the unique solutions of a digital platform.
Firstly, a digital platform provides a digital product representation, or digital product passports, to trace products and transactions throughout the value chain. This allows better understanding of the entire value chain, from raw material to end products, and provides means to identify potential areas of improvement along the value chain.
Second, digital platforms can be used as an internal tool to support SMEs by providing an easy, quick, and accurate way to collect data and facilitate the process of reporting emissions data. A tool like ChainTraced enables SMEs to accurately share and report emissions data, to customers and suppliers.
Finally, a digital solution enables standardized data across the metallic value chain, creating a unified dataset which can be used to compare and provide a more detailed understanding of where in the value chain improvements could be made to optimize it end-to-end. This in turn helps to ensure that all stakeholders are on the same page and are actively working to reduce their environmental impact.
Victor Andersson’s presentation is a powerful reminder of the challenges of decarbonization, and the importance of developing innovative, accurate, and standardized solutions to tackle them.
With digital solutions, the world is one step closer to a more sustainable and equitable future.
Watch the video recording to learn more.