Energy

Fiat Chrysler and Glencore join responsible sourcing blockchain network

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Fiat Chrysler Automobiles (FCA) and mining firm Glencore have become the latest entrants to join the Responsible Sourcing Blockchain Network (RSBN), an industry collaboration which uses blockchain technology in order to support sustainable, responsible sourcing and production practices from mine to market.

According to Fiat Chrysler, the company will jointly work with the network for the launch of a global audit and trace of cobalt in its supply chain. By 2022, the automaker is planning to launch more than 30 electrified nameplates and the consortium will play an important role in enabling a responsible supply chain of cobalt which is being used in lithium-ion batteries to power electric vehicles.

Glencore sees RSBN as playing a ‘key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy’, in the words of copper and cobalt head of marketing Nico Paraskevas.

Downstream automakers are among the keenest stakeholders to sign up, with Ford, Volkswagen and Volvo already members. Volvo’s signature, as this publication reported last month, meant it became the first company in the consortium which fully applied the RSBN solution in its LG Chem supply chain.

Carl Smiley, chief purchasing and supply chain officer at FCA said: “Our commitment to the responsible procurement of raw materials is vital to the integrity and sustainability of our supply chain, especially as our electrification strategy ramps up. Embarking on this journey together with technology and industry leaders will propel our ability to have visibility into artisanal and small-scale mines, allowing us to better manage the social and environmental impacts of our business.”

The Responsible Sourcing Blockchain Network is set to become commercially operational by spring 2020.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.   

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