Ensuring the ability to track the origin and environmental impact of materials is crucial for the implementation of a circular economy. Covestro and Alibaba Cloud collaborate for that purpose.
Due to growing consumer expectations and regulatory demands, it is becoming more and more crucial to assess the usage of sustainable materials and their corresponding carbon footprint data throughout the entire value chain. To achieve this objective, it is necessary to have both strong collaboration throughout the entire value chain and access to tools that facilitate traceability. Covestro, a manufacturer of materials, has formed a partnership with Alibaba Cloud, the digital technology and intelligence platform of Alibaba Group. Collectively, they would offer downstream industries in Asia with indispensable solutions and tools to improve supply chain transparency by facilitating carbon accounting and tracing for sustainable materials.
As part of this collaboration, Covestro's primary responsibility is to offer plastic solutions that are more environmentally friendly, while also providing data on their carbon footprint. Alibaba Cloud's Energy Expert, an AI-powered sustainability platform, plays a vital role in accurately measuring the emissions throughout the entire life cycle of products, from recycled materials to the finished consumer goods. This is achieved by utilizing advanced digital technologies like blockchain. Additionally, it offers a comprehensive solution for industrial enterprises to quantitatively assess and enhance their carbon emissions throughout the entire production cycle.
“As a materials manufacturer with a high focus on sustainable material innovation, Covestro is committed to driving circularity and climate neutrality. Our collaboration with Alibaba Cloud marks a significant milestone in our journey towards a circular and climate-neutral future,” says Lily Wang, Global Head of the Engineering Plastics Business Entity, at Covestro. “With our joint solutions, we are supporting our customers to improve their supply chain transparency while building trust among environmentally conscious consumers, thereby driving industries towards a greener future.”
“We are proud to partner with Covestro in pioneering sustainable solutions that drive positive environmental impact,” says William Xiong, Vice President of Alibaba Cloud Intelligence. “By leveraging our advanced cloud infrastructure and expertise in sustainability technology, we are enabling value chain partners to trace materials with enhanced transparency and efficiency as well as to optimize their carbon footprint to achieve their sustainability target. This partnership exemplifies the transformative power of technology in creating a more sustainable future.”
The collaborative solutions provided by both parties have already been put into effect in the consumer goods industry. As an illustration, Covestro partnered with Nongfu Spring, the top beverage producer in China, to repurpose its 19-litre water barrels into polycarbonate made from recycled materials. KACO, a specialized stationary brand in China, utilized the material to manufacture gel pens. Consumers can utilize Alibaba Cloud Energy Expert's carbon emission accounting and digital tools to scan a QR code on the pens' packaging. This allows them to track the source of the materials and obtain a comprehensive analysis of the carbon footprint at every stage of the production process. Additionally, they can also view the amount of carbon emissions reduced in comparison to using new materials.
Source: Covestro AG
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