Fiat
Chrysler Automobiles (FCA) and mining firm Glencore have become the latest
entrants to join the Responsible Sourcing Blockchain Network (RSBN), an
industry collaboration which uses blockchain technology in order to support
sustainable, responsible sourcing and production practices from mine to market.
According
to Fiat Chrysler, the company will jointly work with the network for the launch
of a global audit and trace of cobalt in its supply chain. By 2022, the
automaker is planning to launch more than 30 electrified nameplates and the
consortium will play an important role in enabling a responsible supply chain
of cobalt which is being used in lithium-ion batteries to power electric
vehicles.
Glencore
sees RSBN as playing a ‘key role in advancing the sustainable partnership
between the producers of commodities that will enable the transition to a
low-carbon economy’, in the words of copper and cobalt head of marketing Nico
Paraskevas.
Downstream
automakers are among the keenest stakeholders to sign up, with Ford, Volkswagen
and Volvo already members. Volvo’s signature, as this publication reported
last month, meant it became the first company in the consortium which fully
applied the RSBN solution in its LG Chem supply chain.
Carl
Smiley, chief purchasing and supply chain officer at FCA said: “Our commitment
to the responsible procurement of raw materials is vital to the integrity and
sustainability of our supply chain, especially as our electrification strategy
ramps up. Embarking on this journey together with technology and industry
leaders will propel our ability to have visibility into artisanal and small-scale
mines, allowing us to better manage the social and environmental impacts of our
business.”
The Responsible Sourcing Blockchain Network is set to become commercially operational by spring 2020.
Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.
The post Fiat Chrysler and Glencore join responsible sourcing blockchain network appeared first on The Block.
Credit: Blockchain News
