DENVER, Oct. 11, 2018 — Bext360, a software company that leverages technologies to streamline critical supply chains in emerging economies, announced at the World Knowledge Forum that it is releasing a new set of sustainability features to its traceability SaaS platform. The Bext360 system tracks and blockchains goods at every step in the supply chain, providing transparency on a shared ledger, which is updated and validated in real time. Now, organizations can connect traceability and sustainability metrics within the Bext360 platform to provide a comprehensive view of their supply chain management practices.
Today, companies are expected to track their carbon footprint while monitoring related activities within their supply chains as both customers and partners hold these organizations to account for their impact. Indeed, new research suggests there is a strong link between business leadership on climate change and a company’s profitability. A study by the non-profit CDP, formerly the Carbon Disclosure Project, found that S&P 500 companies, which build sustainability into their core strategy outperform those failing to demonstrate leadership on climate change. Specifically, companies that actively manage and plan for climate change secure an 18% higher return on investment (ROI) compared to companies that do not; the ROI is 67% higher than companies refusing disclosure of their emissions. Other studies indicate that millennials are leading the charge in sustainable investing, which rose 33% between 2014-2016 to $8.72 trillion, according to Morgan and Stanley.
The Bext360 platform is currently applied to an array of commodities, including timber, cotton, coffee and minerals. The new sustainability module expands reporting beyond traceability by enabling organizations to quantify sustainability metrics for every actor across the supply chain. The module facilitates analysis of the tracked data to understand the environmental, social, and economic impact at each tier in the supply chain. Further, it provides companies with a data management tool to assess their progress against internal sustainability goals, to review sustainability initiative outcomes, and, ultimately, drive strategic investment for individualized sustainability action plans. Companies can also share their blockchain-traced sustainability data and related analysis with partners to ensure that all global suppliers are meeting identified corporate social responsibility policies.
“There is solid evidence that sustainability improves the financial results for companies of all sizes, from small coffee co-ops like Kahawa Coffee to popular brands like Patagonia,” said Bext360 CEO Daniel Jones. “We’re proud to provide a technology platform for our partners to analyze, trace, and share data on their sustainability efforts, to help them make better management decisions and become even more environmentally friendly and socially conscious.”
About Bext360 Bext360 develops technologies that strengthen local businesses and communities in emerging economies by increasing access to capital and streamlining critical supply chains. Bext360’s platform revolutionizes supply chains with IoT, blockchain, machine vision and artificial intelligence, while bringing consumers and farming communities together to improve product quality, community livelihoods and the consumer experience. Bext360 technology builds upon the fundamental shift in mobile access, microfinance, and mobile/digital payments in developing countries. A guiding principle of Bext360 is to build community by enabling buyers and other organizations with direct paths to improve the quality of both the product and the communities that produce their goods, whether it is coffee, seafood, cotton, to palm oil. For more, please visit www.bext360.com.
Kim Vu [email protected]