Global Shipping Business Network (GSBN), a neutral, not-for-profit consortium enabling paperless, accessible, and sustainable growth in global trade with its data infrastructure and ecosystem of partners, has announced that COSCO SHIPPING Lines has collaborated with customer, BOE Technology Group, to issue the first blockchain-certified Hi-ECO green shipping certificate over GSBN.
The development follows COSCO SHIPPING Lines’ previous announcement that it has partnered with GSBN to launch its Hi-ECO blockchain-based shipping product, which incorporates traceable and verifiable green certificates to accelerate decarbonisation in global trade.
As a global corporation, BOE is committed to environmental protection and sustainability. As companies like BOE Technology group embrace to their corporate responsibility to protect the environment, shipping companies have begun to issue green certificates to enterprises like BOE Technology Group that support the use of biofuels for product transportation.
GSBN leverages its blockchain-enabled network to establish linkage between the Proof of Sustainability (PoS) Certificate, which documents the purchase of biofuel by the carrier, and Green Certificates issued to corporations. This connection guarantees that each Green Certificate corresponds to an actual purchase of biofuel, instilling confidence in the marketplace. Furthermore, the technology enables easy verification through attestation, allowing stakeholders to validate the veracity of the claims. This enhances credibility and establishes a foundation of trust among all participants involved in the shipping process.
source: GSBN
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