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Blockchain pilot for green shipping certificates
Photo: GSBN
Global Shipping Business Network (GSBN) has completed a pilot with Cosco Shipping to issue traceable and verifiable green certificates using blockchain technology. The initiative aims to enhance market confidence in greenhouse gas (GHG) reduction claims by linking the proof of sustainability certificate, documenting biofuel purchases, to green certificates issued to corporations.
This connection ensures that each green certificate corresponds to an actual biofuel purchase, which will foster trust among stakeholders.
GSBN plans to document the entire biofuel procurement process on its blockchain to maintain the integrity of environmental claims. The solution supports Cosco's commitment to reducing emissions and provides customers with assurance of immutability and traceability. (pb)