A regulator can be more efficient and add more value to their community as the world moves to a more decentralised transparency protocol by leveraging information supplied to them by their regulated community. Regulators provide policy, planning, legislation and service delivery to a regulated community. Often the service delivery results in permission to the community to act (permits, business identifiers etc). Implementing UNTP protocols enhances the value of issued permissions to their community and simplifies their compliance burden.
We encourage national and local authorities to consider the UNTP for their initiatives to improve the value that they’re able to provide to their regulated communities, while making their work more efficient.
Businesses take inputs, add value and produce products. Demonstrating verifiable proof of the quality of the inputs (anti-slavery, carbon load, country of origin, etc) and mapping them to the product outputs at the granularity of the shipped product will provide their customers confidence in the products they are buying, improve market access and potentially provide price premiums.
Issuing a collection of passports, traceability events, and conformity credentials linked to shipments adds value for downstream customers and aids in ESG due diligence.
Simplify your ESG data collection and reporting, improve your businesses resilience to supply chain disruptions and meet the rapidly changing market demands for ESG and other supply chain due diligence requirements.
Financial institutions are under increasing pressure from both regulators and the investment community to grant preferential terms for investment capital to sustainable businesses. The finance industry will increasingly verify sustainable performance via their customer annual reporting according to IFRS sustainability standards.
Just as financial transactions such as bills, invoices and payments aggregate up to corporate financial statements such as profit & loss and balance sheets, so corporate level annual sustainability metrics are constructed from operational data such as UNTP digital product passports. Furthermore, at consignment level, trade finance instruments such as documentary letters of credit normally require sufficient documentation for goods clearnance to be presented prior to payment release. For cases where goods may be blocked at the border due to non-compliance with ESG regulations, then financial institutions will require ESG compliance evidence prior to releasing funds.
There are over 100,000 industry associations world-wide. Most represent a specific industry sector within a specific jurisdiction. These member associations typically provide advocacy on behalf of the community and offer best practice advice. In many cases the associations define quality standards and branding that distinguish their member's products in the marketplace (eg genuine manuka honey).
These member associations are well positioned to assist their members in navigating the complexity of domestic and international ESG standards and in assisting them to implement the UNTP. When a particular association member engages in fraudulent practices then it can quickly damage the reputation of the entire industry. Therefore, member associations are strongly incentivised to ensure that their membership adheres to quality standards and to eject non-compliant members. This includes supporting the adoption of industry-wide sustainable practices and UNTP as the digital evidence of those practices.
