SMX deploys blockchain tech to drive global reuse of fibre-based packaging

Security Matters will use its unique marking, proprietary reader and blockchain technology to provide an end-to-end solution from seed, plant, product to recycle and reuse of fibre-based packaging.

Security Matters (ASX:SMX) – the Aussie-led innovator focused on marking and digitising objects to facilitate the development of the global circular economy – has become a member of cross-industry alliance 4evergreen.

4evergreen is committed to perfecting the circularity of global fibre-based packaging to build a climate-neutral and sustainable society by looping in the entire value chain and synthesizing cooperation throughout the fibre-based packaging life cycle.

Becoming a member of 4evergreen is a natural next step for SMX following the firm’s recent launch of its forest, lumber, and wood operations in support of a circular, sustainable solution for the wood and lumber industries from seed to product.

SMX blockchain tech to verify sustainable supply chains

SMX’s unique marking, proprietary reader and digital blockchain platform technology will contribute to 4evergreen’s mission by providing a full end-to-end solution from ‘seed to plant to product to recycle and reuse.’

A report in 2019 found fibre-based packaging represented 38% of all packaging brought to the market in Europe.

Security Matters and 4evergreen see it as vital to contribute to a climate neutral society by assisting in the industry’s ability to ensure circularity of these high use products.

The need for sustainable and circular materials has also increased in the EU, following the European Green Deal announcement, while Australia is following the same path with its recent pledge to hit net zero emissions by 2050.

SMX’s circular sustainable solution will enable forest, lumber and wood companies who operate in or trade with the EU to comply with the new European Green deal regulations, by verifying sustainable supply chains and enabling supply chain diligence for ESG.

SMX’s technology will help companies provide proof of evidence of sustainable plantations and will also assist in the monitoring of their assets for insurance purposes.

Goal to boost recycling of fibre-based packaging

4evergreen’s unabashed aim is to increase the recycling rate of fibre-based packaging to 90% by 2030.

To reach this goal 4evergreen has identified four intermediary targets to be met by 2025, including recognising its recyclability evaluation protocol and circularity by design guidelines for fibre-based packaging.

Ensuring separate collection streams are available for all fibre-based packaging types, including for those used in household, out-of-home and on-the-go consumption must also be prioritised.

Paper for Recycling (PfR) should be sorted according to the different paper and board categories specified in the EN643 standard, while all collected fibre-based packaging, specifically from household, out-of-home and on-the-go consumption, must be recycled.

SMX driving shift to circular economy

SMX continues to be recognised for its collaborative approach to building a scalable platform to drive the global shift to a circular economy.

Most recently SMX received New York’s 2021 Global Waste Management & Recycling Digitalization Technology Innovation Leadership Award from Frost & Sullivan.

The company has been partnering with key organisations to assist various industry sectors in their transition to a circular economy.

SMX has joined the Global Platform for Sustainable Natural Rubber (GPSNR) to drive down the environmental and socio-economic problems associated with sourcing this increasingly valuable commodity.

The company is part of a global taskforce comprising 14 of the world’s largest electronics companies to develop a shared vision for the circular economy in economics.

SMX has also opened a Sustainability Competence Centre for fashion brands, providing them with a transparent shared platform for recycling their goods back into high-quality materials and merchandise.

4evergreen Chair, Hans Wortman said SMX would be a valuable member of the organisation.

“We appreciate their innovative outlook and look forward to working together with SMX and other 4evergreen members to develop solutions, guidelines and protocols to improve the recyclability of fibre-based packaging,” Wortman said.

SMX Founder and CEO, Haggai Alon said the company was looking forward to helping the fibre-based packaging sector become part of the circular economy.

“Working with 4evergreen and their members, we can progress towards a more innovative, sustainable and tangible way to enhance the fibre-based packaging industry,” Alon said.

“We can help these players achieve their ESG objectives and enable them to successfully transition to a truly circular economy to encourage a recycling rate of 90% by 2030.”

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.