ResponsibleSteel™ welcomes CarbonChain into membership

CarbonChain’s mission is to make supply chains green again. CarbonChain has built technology solutions to enable commodities companies to measure the greenhouse gas (GHG) emissions in their supply chains. This allows our customers to understand and mitigate the risks they face from carbon pricing and climate legislation, as well as unlock sustainability-linked opportunities such as interest rate discounts and access to green financing.

The CarbonChain platform allows metals traders, mining companies, and manufacturers to receive automated, detailed carbon reporting for their individual trades/transactions. Importantly, the reports include a carbon intensity figure showing the amount of carbon dioxide emitted per metric ton of product delivered to their end-customer (e.g. X tonnes of carbon dioxide emitted per Y tonne of steel produced and delivered). This enables customers to compare the carbon emissions intensity of their different supply chains and ultimately take action to mitigate their transition risk to moving to a low-carbon economy carbon risk (i.e., carbon taxes, green borders, etc).

Based in London, U.K., CarbonChain has been supported by the U.K. government’s innovation arm, Innovate UK, The Mayor of London’s Business Launch Program and the London Business School Incubator. In addition to metals & mining, they work with traders, producers, and manufacturers in oil & gas and agriculture sectors.

The CEO of CarbonChain, Adam Hearne, said: “Transparent supply chains are the hallmark of any sustainable businesses. We believe that taking proactive steps in carbon reporting is essential for measuring and managing carbon emissions. Given the importance that steel plays to achieving a low carbon future, we are excited to join ResponsibleSteel and work with its members to manage carbon emission reductions in a fair and responsible manner.”

Executive Director of ResponsibleSteel, Ali Lucas, said: “As ResponsibleSteel is involved more and more in the whole steel supply chain – from mining all the way through to end user – it is a really opportune time to welcome CarbonChain as an Associate Member. We are sure that with their deep skills and expertise in the supply chain arena we, and our other ResponsibleSteel members, will benefit greatly from their participation in our various work programmes and projects over the coming months.”