AWI will use the Everledger transparency platform to seize and make seen safe details about wool provenance and its provide chain to create new sources of worth for wool growers, producers and retailers.
London and Sydney, 25 January 2021
The Australian wool business and its companions could quickly be capable to hint the lifetime journey of genuine wool merchandise, because of a brand new partnership between the pioneer in provenance expertise and the not-for-profit physique for the Australian wool business.
Everledger, the digital transparency firm, and the Australian Wool Innovation (AWI), which is the mum or dad organisation for The Woolmark Firm, have at present introduced their strategic collaboration to seize asset info alongside the wool provide chain with a view to allow provenance and chain of custody verification utilizing blockchain expertise.
In step with AWI’s push to advertise traceability in help of the Australian wool business, Everledger will construct and host an Digital Chain of Custody Software (ECCT) on its platform. The goal is to trace and validate the trade of possession of chosen wools as they transfer up the provision chain from farm, to abroad processing and thru to completed merchandise.
Merino sheep are celebrated globally for producing the world’s best, softest and most lovely wool. Australia produces round 90 p.c of the world’s fantastic attire wool and contributes considerably to the Australian financial system.
Defending an enviable repute
On this preliminary stage, ECCT will act as a proof of idea. It is going to hint the journey of wool from farm to the tip client, by figuring out and capturing the required documentation at every stage of the worth chain.The ECCT will display sustainability and compliance greatest practices and supply extra confidence on the authenticity and provenance of the wool product. It means a retailer or finish client may confirm the place and when in Australia the unique wool was sourced.
Completely different members at every stage of the provision chain will be capable to join by way of standardised knowledge, in keeping with greatest practices for the attire business. Recorded proof can be utilized to display compliance, whereas members can even discover further applied sciences to boost materials and chain of custody integrity.
John Roberts, Chief Operations Officer at AWI, defined that operating the proof of idea initiative will inform the organisation concerning the applicability of blockchain expertise to showcase and gauge business urge for food. “A proof of idea will permit a extra prudent use of growers funds, as from the undertaking findings we’ll then decide whether or not we’ll spend money on a full platform or look to take part in another.”
“Our organisation and stakeholders have been monitoring the fast escalation in emphasis being positioned on provenance, company social duty, and the perennial considerations relating to provide chain effectivity and biosecurity,” he stated. “Traceability and transparency are vital for safeguarding the worldwide repute of Australian wool. This partnership with Everledger will assist us to ease the move of data up and down the provision chain to all events, and so talk wool’s advantages to a wider viewers. Finally, that is excellent news for our farmers and associated small companies that depend on these exceptional sheep to make a residing.”
Peter Hughes, Head of Australia & New Zealand at Everledger, stated: “Australian merino wool is called nature’s miracle fibre, as a result of its softness, breathability and ecological footprint – particularly when in comparison with artificial supplies. It’s a gold normal Australian export, appreciated across the globe. We’re delighted to accomplice with such an necessary establishment within the nation and help 22,000 woolgrowers with state-of-the-art expertise.”
Everledger CEO Leanne Kemp commented: “AWI’s values of clear provenance and truthful social and environmental affect in trend are beliefs we help wholeheartedly at Everledger. The truth is, that is the core of what we do. It brings me unbelievable pleasure to have the ability to bridge these two worlds that on the floor appear to be so distant: wool manufacturing and expertise, interwoven by trend.”
Ms Kemp added: “Blockchain mixed with different applied sciences can generate vital financial worth to a spread of sectors in Australia, contributing an estimated world annual enterprise worth of over $175 billion by 2025. AWI are taking a lead for different conventional industries in Australia to comply with. We’re delighted to design and handle an answer that can assist AWI to ship a extra clear worth chain. By sharing provenance info securely – from farm to client – all members can get pleasure from the advantages of traceability.”
ABOUT AUSTRALIAN WOOL INNOVATION:
Australian Wool Innovation (AWI) is a not-for-profit organisation owned by all Australian woolgrowers. AWI invests in analysis, improvement, schooling and advertising alongside the worldwide provide chain for Australian wool.
AWI makes strategically focused investments to boost the profitability, worldwide competitiveness and sustainability of the Australian wool business. Funded by Australian woolgrowers, the cooperative is targeted on delivering outcomes for wool levy payers.
Working alongside the provision chain of Australian wool, AWI nurtures expertise, innovates by way of analysis, and actively invests in pushing the boundaries of what wool means to the world.