Proposed by Toxnot
March 2, 2022 /CSRwire/ — A global challenge for every manufacturer is to obtain reliable and secure data on the materials of the products they manufacture. Today, governments are considering how to structure regulations to promote a circular economy. It is essential that companies have the necessary tools to prepare for this fundamental change in the regulatory environment. To solve this central challenge, the Ministry of Economy of Luxembourg mandated the board ImpaKT positive develop an industry standard for product circularity data called Product Data Circularity Sheets (PCDS). This standard will be incorporated into Toxnot platform. This creates the world’s first cross-industry data aggregation platform for PCDS, combining it with one of the market leading supply chain management systems.
The PCDS makes it easier for business stakeholders to assess circularity metrics now. If you are a company interested in implementing circularity, a PCDS allows you to better track and measure each of your products for the circular economy. Ultimately, this allows your customers to clearly communicate the circularity attributes of your products. It will also allow companies to prepare for the upcoming ISO 59040 standard being developed for circular economy products.
“The Product Circularity Datasheet project is leading the way in giving supply chains a format for transacting circularity data,” said Pete Girard, CEO of Toxnot. “We are very excited to combine this with Toxnot’s product and material passport capabilities to expand the use and usability of circularity data in product design, purchasing and end-of-life applications. .”
This collaboration accelerates companies’ ability to create and manage universal digital circularity fingerprints for all materials and products. Access to this data helps companies easily find the circularity attributes they need from suppliers, allowing them to design products with precision and confidence for the impending circular economy. Toxnot brings global reach across multiple supply chain and industry levels to the PCDS project. Integrate product circularity datasheet data on top of Toxnot’s market-leading infrastructure to digital product passports.
“This is another important step in continuing the open and neutral product circularity datasheet initiative towards wide-scale industry acceptance and towards Luxembourg’s goal of becoming a hub technology for the circular economy”, said Dr Christian Tock, Deputy Director General Industry, New Technologies and Research for the Ministry of the Economy of Luxembourg. “We are excited to see the first practical integration of PCDS into a US-based data aggregation platform.”
Getting started with your first PCDS using the Toxnot platform is simple. Register now with a free Toxnot account to create PCDS reports and publish them on Toxnot Exchange. With a Toxnot Premium subscription, users can also export an unlimited number of PCDS reports to share directly with customers and stakeholders.
Toxnot is a software company whose mission is to improve health and sustainability throughout the global supply chain by streamlining the chemical transparency process. Toxnot provides an efficient system for manufacturers to import chemical data, provide insight into their hazard profiles, report results, and create safer products. Organizations use Toxnot to automate transparency reporting and compliance, easily collect hazard information, and reduce risk in their global supply chain. Toxnot scales from small businesses to Fortune 500 companies. For more information, https://toxnot.com/.
The PCDS is a digital fingerprint of the circular qualities of products. It contains a list of statements in a user-friendly yes/no format, along with tips for each statement. It does not require confidential data. It is machine-readable and automatically assembles much of the data. It shows how or if the data has been audited. The PCDS was commissioned in 2018 by the Ministry of the Economy of Luxembourg with the consulting firm Positive ImpaKT, in consultation with more than 50 representatives from industry, NGOs and government agencies. For more information www.pcds.lu.
Toxnot is a software company with a mission to improve health and sustainability across the global supply chain. Using AI and automation, our platform makes the process of importing chemical data more efficient for manufacturers, providing faster insight into their hazard profiles, improving product reporting and streamlining their ability to create safer products. From Fortune 500 companies to startups, companies are using Toxnot to efficiently scale their transparency, circularity and compliance management, easily collect hazard information and reduce risk in their global supply chain.
More than Toxnot