SABIC Partners with Circularise on Scope 3 Blockchain Tracing
Chemical company SABIC, headquartered in Riyadh, Saudi Arabia, has launched a pilot project with Circularise, a blockchain software provider, to evaluate the use of Circularise's technology in tracing the carbon footprint of specific material streams from end to end.
Generating and reporting Scope 3 emissions is complex and faces challenges involving the availability of reliable data. Accurate data on a company’s carbon footprint requires collaboration and data sharing across multiple value-chain partners. Blockchain technology has emerged as a potentially efficient solution to improve the process that can bolster transparency and accountability while minimizing risk across supply chains.