TrusTrace has partnered with leading enterprise brands, the Forest Stewardship Council (FSC)and OpenAtlas to create a validated solution for shipment-level compliance, tailored to real-world scenarios.
STOCKHOLM, Sweden, October 22, 2024 — TrusTrace, A world pioneer in supply chain compliance and product traceability, the company today introduced its cutting-edge Deforestation Compliance Solution, which aims to assist businesses in meeting and proving deforestation-free shipments in accordance with the EU’s Deforestation Regulation (EUDR). The new ruling to postpone enforcement until December 30, 2025, gives businesses a critical window of time to get ready and make sure their supply chains adhere to the strict requirements before the deadline. Proactive planning is crucial for compliance success because it can take many months to set up processes and obtain all the data required for customs clearance.
By guaranteeing that goods entering the EU don’t contribute to environmental degradation or deforestation, the EUDR seeks to combat deforestation. Companies must guarantee that their EU-bound products are free from deforestation-related practices and offer complete traceability to the land plot in order to comply. Given that it covers commonly used materials like leather, wood, and rubber, this is set to have a big influence on the retail sector as a whole.
“Businesses find it difficult to navigate the complexities of EUDR; they are under tremendous pressure to generate detailed traceability data, which makes compliance procedures difficult because they have to incorporate new procedures into pre-existing frameworks,” stated Shameek Ghosh, CEO and co-founder of TrusTrace. Our new Deforestation Compliance Solution is useful in this situation. Its smooth integration into current procedures guarantees that EU-bound goods in the brand’s supply chain adhere to EUDR regulations. The TrusTrace platform, which includes the solution, unifies data collection and actions for efficiency and proactive compliance, allowing brands to use the data gathered to comply with a wider range of requirements.
Shipment-level deforestation compliance is made simple with the TrusTrace Deforestation Compliance Solution, which was co-designed with top business brands to ensure it satisfies industry standards. The technology uses advanced automations to allow users to create pre-formatted due diligence statements for immediate submission, do geographic deforestation research in real-time, and issue hundreds of data collection requests with a single click. The partnership with OpenAtlas, a pioneer in geospatial analysis, guarantees the best quality satellite images and analysis by fusing cutting-edge AI with multi-spectral satellite imagery.
TrusTrace promotes platform users to secure an FSC Certification and guarantee supply chain certification down to the forest level in order to facilitate EUDR compliance. The majority of the material derived from FSC-certified forests and plantations complies with EUDR regulations, guaranteeing that stringent standards for sustainable forestry have been fulfilled in the nation of origin.
The new solution specifically offers:
- Shipment-level traceability: Brands can map farms and collect EUDR-required traceability data including GPS coordinates and FSC certificates for each EU-bound shipment efficiently, ensuring full traceability of products.
- Precise risk assessment: Brands can automatically benchmark country-level risks, conduct detailed risk assessments, and instantly verify compliance with geospatial analysis powered by OpenAtlas satellite images – all at shipment level for precise evaluation.
- Real-time risk and compliance monitoring: The solution provides a comprehensive overview of data, insights, and reports for each shipment on an intuitive, easy-to-use risk and compliance dashboard, which enables users to monitor and mitigate risks while maintaining full visibility into compliance status.
- Automated DDS generation: Brands can automatically generate due diligence statements in the required format for each shipment, and easily submit them to the European Commission via API integration.
- Access to supplier support and policy teams: TrusTrace provides support on the customer and supplier level. Policy and regulation experts keep customers up to date on the latest regulatory developments, and dedicated trainers will help suppliers efficiently share their data.
While the EUDR is top-of-mind for businesses around the world, the reality is that they are under pressure to comply with a host of regulations. Within deforestation alone, the UK Environment Act and the US Lacey Act are planned to be amended, and multiple laws require supply chain traceability and due diligence.
