Eastman is collaborating with SAP to pilot the GreenToken by SAP technology to enable traceability of certified recycled content across the value chain using blockchain technology.
The Eastman and SAP collaboration will leverage the blockchain-based platform of GreenToken to provide visibility through the value chain of sustainable products, such as the specialty plastics produced with Eastman’s molecular recycling technologies. Through data transparency enabled by blockchain, the platform is designed to give brands and consumers traceable information of sustainable attributes of products, including their percentage of certified recycled content.*
“Our objective is to help innovate a solution for the industry.” said Aldo Noseda, vice president and chief information officer for Eastman. “Through this collaboration, we will work with industry leaders, value chains and brands to build traceability of sustainable products from origin to consumers.”
Eastman and the founders of GreenToken realized during initial discussions that this solution has the potential to be an important enabler of the circular economy.
“The ability to provide brands with auditable proof that their products have been made with waste plastic recycled through molecular recycling can be a turning point for the circular economy,” said James Veale, co-founder of GreenToken. “Teaming up with Eastman, we aim to offer transparency across the supply chain so customers and consumers can choose more sustainable products.”
Eastman has commercialized two molecular recycling technologies that produce Eastman Renew materials already adopted by leading brands. Eastman’s processes are certified and audited under International Sustainability and Carbon Certification (ISCC) standards, so the GreenToken solution will bring an extra layer of transparency to Eastman’s circular solutions.
* The recycled content is achieved by allocating the recycled waste plastic to Eastman Renew resins using a mass balance process certified by ISCC.
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,500 people around the world and serves customers in more than 100 countries. The company had 2020 revenues of approximately $8.5 billion and is headquartered in Kingsport, Tennessee, USA.
GreenToken by SAP is a supply chain solution that offers companies a new level of transparency through reliable, blockchain-based information. Customers gain visibility into where raw materials came from and produce products with knowledge about where and how the materials were produced, even in complex, non-batch supply chains. For more information, visit www.green-token.io