Cargill is an American multinational corporation that operates in the agricultural, food, and financial industries. The company is one of the largest privately held corporations in the United States and has operations in over 70 countries. Cargill’s businesses include the processing and distribution of grains and oilseeds, meat and poultry, cocoa, and other food ingredients, as well as providing risk management and financial services to agricultural producers and processors.
Cargill faced challenges in ESG reporting due to unreliable information on provenance and the lack of authentication of the information as the product moves through different stages from the plantation to the processing plant. The lack of transparency and accountability in the supply chain makes it difficult to ensure compliance with sustainability standards and regulations. This can result in reputational and financial risks for the company. To address these challenges, Cargill decided to implement the Provenance and Visibility Solution from #dlt to improve traceability and transparency in the supply chain, as well as engage with stakeholders to build trust and accountability. Additionally, the company can identify suppliers and partners at risk to ensure compliance with sustainability standards and promote sustainable practices throughout the supply chain.
The use of blockchain technology from #dltledgers for tracking the source and provenance of commodities has streamlined the way the operations teams manage the supply chains. With the blockchain-based solution, companies can now easily trace the origin of key commodities, ensuring compliance with sustainability standards and regulations. This provides a high level of transparency and accountability across the entire supply chain, enabling companies to simplify their ESG reporting and make their partners more accountable for sustainable practices. The result is a more efficient and sustainable supply chain that benefits both businesses and the environment.
We see the blockchain based transactions as the latest example of how working together and using technology to solve challenges can improve trade, working capital flows, multi-tier visibility as well as traceability, food safety, nutrition and more.