June 15, Unilever unveiled a $1 billion initiative geared toward combating local weather change wherein blockchain know-how will play an integral p
June 15, Unilever unveiled a $1 billion initiative geared toward combating local weather change wherein blockchain know-how will play an integral position.
Traceability & transparency
Unilever is establishing a €1 billion ($1.13 billion) fund that over the subsequent ten years might be used to guard the surroundings:
“To speed up motion, Unilever’s manufacturers will collectively make investments €1 billion in a brand new devoted Local weather & Nature Fund. This might be used over the subsequent ten years to take significant and decisive motion, with tasks more likely to embrace panorama restoration, reforestation, carbon sequestration, wildlife safety and water preservation.”
The corporate hopes to attain a ‘deforestation-free provide chain’ by 2023:
“To do that, we’ll enhance traceability and transparency by utilizing rising digital applied sciences – similar to satellite tv for pc monitoring, geolocation monitoring and blockchain – accelerating smallholder inclusion and altering our method to derivates sourcing.”
Carbon ice cream
Unilever is just not new to blockchain. In 2019, the corporate began utilizing the know-how in advert reconciliation. It’s also presently operating a trial in its accounts payable course of.
It’s subsidiary, Ben & Jerry’s, has been operating a blockchain-based platform that permits its purchasers to contribute to offsetting the carbon footprint.
Transparency and traceability are a few of the better-known benefits of blockchain know-how, however solely time will inform whether or not it’s going to assist Unilever obtain its bold purpose.