Security Matters (ASX:SMX) has just joined 14 of the world’s leading consumer electronics brands – including Microsoft, Dell and Google – on a global alliance to form a shared vision for a circular economy for electronics.

Cisco, Vodafone, Accenture, Lanxess, Sims Lifecycle Services, Glencore, KPMG International and Close the Loop are among the other companies picked by the World Business Council for Sustainable Development and the World Economic Council to serve on the global Circular Electronics Partnership.

The primary goal of the partnership is to accelerate the launch of an industry standard technology that can mark, track and trace electronic equipment along the supply chain with SMX’s unique blockchain-based solution.

This would enable full circularity over materials and reduce the use of virgin materials.

Just 17.4 per cent of all e-waste globally is collected and recycled. The rest – worth at least $57 billion – is thrown away.

It’s the first time that experts, business leaders and international organisations will work together to find solutions around this topic.

The project will be completed in collaboration with the International Bromine Council and the North American Flame Retardant Alliance, which have been working on developing end-of-life recycling techniques since July.

It’s a strong validation of SMX’s technology, which could also be used on everything from safeguarding the coronavirus vaccine rollout to letting computer giant Intel know whether its motherboards have been tampered with.

“There’s no time to waste in finding sustainable solutions for consumption and production,” says Dominic Waughray, managing director of the World Economic Forum.

“The roadmap and vision set forth by the Circular Electronics Partnership will create the necessary momentum to maximise resources, transform value chains and make the circular transition in electronics a reality.

SMX chief executive and founder Haggai Alon says that “Security Matters (SMX) proudly supports the leadership role of the WBCSD and the importance of the Circular Electronics Partnership (CEP) Initiative in making sustainable electronics a consumer and industry standard.  SMX aims to lead the sustainability revolution in electronic consumption through the use of its digital twin technology and blockchain platform solutions.  This will enable companies to successfully transition to a truly circular economy in a tangible, credible and measurable way – where every material is fully utilised, and nothing goes to waste.”

This article was developed in collaboration with Security Matters, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.