Latest news with #TrusTrace
Yahoo
3 days ago
- Business
- Yahoo
New guide outlines framework for supply chain compliance
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. A new playbook from traceability company TrusTrace discusses how brands and manufacturers can collect and manage the supply chain data needed to comply with global environmental and human rights legislation. The playbook outlines some of the challenges and potential solutions for complying with legislation such as the European Union's Corporate Sustainability Due Diligence Directive and Ecodesign for Sustainable Products Regulation. The playbook also explores the financial risks of noncompliance due to lawsuits or reduced investment. As a result of new regulations, global fashion companies will be required to provide data points on impact, such as suppliers' carbon emissions and whether primary materials contributed to deforestation. There's been a recent increase in global regulations targeting environmental and human rights problems in corporate activities, which have led to 'significant reporting burdens for suppliers,' TrusTrace said in a press release. While last year's playbook covered the digital product passports required by several EU regulations, the new guide identifies 171 data points required by 16 pieces of legislation from the U.S., U.K. and EU, as well as from some individual European countries. These regulations cover multiple issues, including sustainability, human rights, chemical pollution and greenwashing. The guide also explains how certain data points might be available in existing corporate reports and certificates. As the legal framework for prosecuting companies grows, strategic climate litigation is also increasing, for fashion brands as well as for companies in other industries such as oil and gas, Tiffanie Chan, policy analyst and lawyer at the London School of Economics, said in the playbook. Chan collaborated on a 2024 study in Nature Sustainability that found that on average, companies experience a 0.41% fall in stock returns after a climate-related filing or unfavorable court decision. Fashion brands especially are vulnerable to mismanagement, deforestation, and 'polluter pays' lawsuits, in which companies are sued for local environmental damage, among other types of cases, according to the playbook. The playbook also stated that banks and pension funds can be sued for funding high-emitters, and even insurers and investors are beginning to evaluate climate risks, all of which 'could have implications for the cost of capital.' The guide also includes interviews with executives at Adidas, Hugo Boss and Primark, along with the suppliers Epic Group, Karacasu Tekstil and Impetus Group. 'My North Star is to get supply chain-related data to the same robustness as financial data,' Sigrid Buehrle, senior vice president of sustainability and environmental, social, and governance at Adidas said in the release. 'That's where we need to get to, with an effective data landscape and a standardized approach to data collection and evaluation.' Earlier this year, TrusTrace announced a partnership with global nonprofit Textile Exchange on a transaction-based supply chain tracking system specifically for brands that source Textile Exchange-certified materials. Recommended Reading Workers' rights and environmental legislation endorsed by European Union Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Value Chain
14-06-2025
- Business
- Fashion Value Chain
TrusTrace Unveils New Playbook to Strengthen Supply Chains
Leading supply chain traceability platform TrusTrace has released its 4th Industry Playbook titled The Data Advantage: A Practical Guide to Building De-risked, Compliant and Future-Ready Supply Chains. The launch took place at the Global Fashion Summit in Copenhagen, amid growing calls for transparency, accountability, and data-driven decision-making in fashion sourcing. Central to the playbook is the TrusTrace Compliance Canvas™, a strategic framework designed to help brands and manufacturers collaborate on collecting essential supply chain data while reducing reporting burdens. Key Industry Voices Featured: The guide includes insights from leading brands adidas, Hugo Boss, and Primark, and suppliers such as Epic Group, Karacasu Tekstil, and Impetus Group. Their case studies reveal the challenges of meeting rising ESG expectations, the urgency of creating standardized frameworks, and the importance of verifiable, digital records in a fragmented regulatory environment. Experts from Policy Hub, Textile ETP, and LSE's Grantham Research Institute also share forward-looking insights on legal and climate risks, reinforcing the urgent need for better data practices. Core Pillars of the Playbook: The Minimum Data Package: A streamlined list of critical data points for compliance Data Requirement Breakdown: What's needed under emerging ESG regulations Real-world Case Studies: Experiences from brands and suppliers managing traceability Executive Risk Briefing: Guidance on how data can mitigate reputational and compliance risks TrusTrace CEO Shameek Ghosh emphasized that as supply chain data becomes central to compliance and sustainability, brands must move beyond intention to infrastructure. Author and sustainability journalist Brooke Roberts-Islam adds, 'Despite huge data efforts, what's collected is often just documentation, not actual impact metrics. This playbook is a pragmatic response to that gap.' Download the full playbook:
Yahoo
06-06-2025
- Business
- Yahoo
TrusTrace's playbook aims to boost data, supply chain compliance
Titled "The Data Advantage – A Practical Guide to Building De-risked, Compliant and Future-Ready Supply Chains", the TrusTrace playbook launches at the Global Fashion Summit in Copenhagen. The playbook arrives at a time when the industry faces increased regulatory pressure, climate risks, and a demand for transparency that has led to a substantial reporting workload for suppliers. It introduces 'The TrusTrace Compliance Canvas', a framework aimed at aiding brands and manufacturers to better collaborate on a standardised set of supply chain data. This is backed by contributions from industry participants. Interviews with brands such as adidas, Hugo Boss, and Primark are featured within the playbook. These brands, along with suppliers like Epic Group, Karacasu Tekstil, and Impetus Group, discuss their strategies for data management and traceability in light of changing regulations and environmental objectives amidst policy uncertainty. Primark Product Traceability and Assurance head Cari Atkinson said: 'At Primark, we've focused on creating clarity for our suppliers by aligning on the data that matters most, and building the internal systems and skills to use it well. Working with TrusTrace has helped us turn complex data requirements into something more manageable for our teams and suppliers.' adidas Sustainability and ESG SVP Sigrid Buehrle said: 'My North Star is to get supply chain-related data to the same robustness as financial data. That's where we need to get to, with an effective data landscape and a standardised approach to data collection and evaluation.' The playbook also includes insights from Policy Hub on potential future policies, Textile ETP's views on global manufacturing preparedness, and an analysis of corporate climate litigation from The London School of Economics Grantham Research Institute on Climate Change and the Environment. The playbook underscores the importance of pragmatic collaboration in supply chain data management. It suggests that this data should be more than a compliance tool; it can also be instrumental in informed sourcing decisions and risk management. 'A fascinating insight from these interviews is that despite the already huge data burden, with myriad tools and many platforms and certifications, what's collected is mostly documents, not meaningful data or numbers for calculating and addressing actual environmental impacts. It's mere foundational due diligence,' the book's author Brooke Roberts-Islam stated. Brands and suppliers have also highlighted that subjective interpretations of regulations and inconsistent methodologies hinder achieving tangible outcomes, notes TrusTrace. TrusTrace CEO and co-founder Shameek Ghosh added: 'As data becomes the new cornerstone of compliance and climate readiness, brands need more than intention—they need infrastructure. This playbook outlines what actionable, standardised data collaboration should look like.' Last month, TrusTrace introduced an AI-powered enhancement to help fashion brands and manufacturers gather, centralise, and scrutinise supply chain traceability information. "TrusTrace's playbook aims to boost data, supply chain compliance" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
TrusTrace Releases Sustainability Compliance Playbook
Global supply chain traceability and compliance platform TrusTrace released its new framework to streamline data collection and comply with industry regulations. Playbook: The Data Advantage—A Practical Guide to Building De-risked, Compliant and Future-Ready Supply Chains launched at the Global Fashion Summit in Copenhagen. The playbook introduces the TrusTrace Compliance Canvas, a framework designed to help brands and manufacturers more effectively collaborate on streamlined, standardized supply chain data. TrusTrace worked with brands such as Adidas, Hugo Boss and Primark to gain insights into their processes and needs for data collection and traceability. More from Sourcing Journal TrusTrace's New, AI-Powered Data Hub Gives Insights on Supply Chain Compliance Primark Launches In-Store Repair Workshops in the US Primark CEO Paul Marchant Resigns Following Company Investigation 'At Primark, we've focused on creating clarity for our suppliers by aligning on the data that matters most and building the internal systems and skills to use it well,' said Cari Atkinson, head of product traceability and assurance at Primark. 'Working with TrusTrace has helped us turn complex data requirements into something more manageable for our teams and suppliers.' TrusTrace's playbook is structured around four pillars. The minimum data package of the TrusTrace Compliance Canvas offers a streamlined summary of essential data points for compliance with industry regulations, creating a common foundation for collaboration to reduce the data collection and reporting burden. The second pillar is understanding data requirements, which is a clear breakdown of current and upcoming environmental, social and governance regulations, outlining data needed, why it matters and how to comply. The third pillar, practical insights from industry leaders, includes the input from fashion brands, as well as perspectives from Epic Group, Impetus Group and Karacasu Tekstil, ranging from raw material sourcing to garment finishing. 'This work is going to create a demand for data…and the lack of harmonization across countries means we need a just the [rule of] law,' said Tércio Pinto, head of innovation at Impetus Group. And finally, the executive briefing and future risk outlook includes insights from AAFA, Policy Hub, TrusTrace and the London School of Economics on the growing legal, financial and reputational risks companies face and how robust supply chain data can help mitigate that risk. 'My north star is to get supply chain-related data to the same robustness as financial data,' said Sigrid Buehrle, senior vice president of sustainability and ESG at Adidas. 'That's where we need to get to, with an effective data landscape and a standardized approach to data collection and evaluation.' TrusTrace said that contributing brands and suppliers emphasized the challenges presented by subjective interpretation of regulations coupled with a lack of standardization of methodologies as barriers to effective sustainability and traceability reporting. Through its Compliance Canvas platform, which is enhanced by AI technology, brands and suppliers can standardize how supply chain material traceability data is captured, digitized and shared. 'As data becomes the new cornerstone of compliance and climate readiness, brands need more than intention—they need infrastructure,' said Shameek Ghosh, CEO and co-founder of TrusTrace. 'This playbook outlines what actionable, standardized data collaboration should look like.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
TrusTrace's New, AI-Powered Data Hub Gives Insights on Supply Chain Compliance
TrusTrace wants clients to put their trust in its data quality. The supply chain traceability provider announced Tuesday it had launched an upgraded platform which leverages artificial intelligence to conglomerate and analyze data, in turn offering up recommendations and monitoring supply chain risks to flag to the client. More from Sourcing Journal Tech Tactics: Bluecore Brings AI Shopping Assistant Alby to Shopify Retailers Deda Stealth CEO Explains Why Tariffs Made This Year the Right Time for U.S. Expansion Amazon's Latest AI Feature Allows Sellers to Upgrade Old Listings Shameek Ghosh, CEO of TrusTrace, said he believes the update will help clients take charge of their supply chains in a new way, particularly in a time of economic uncertainty. 'In today's high-stakes regulatory and business environment, access to accurate, real-time sustainability data shouldn't be a privilege—it should be a given,' Ghosh said in a statement. 'We've built a powerful, AI-assisted supply chain data hub that allows companies to quickly and easily collect and analyze data at any scale, empowering them to move from reactive crisis management to proactive impact-driven strategies. This is the future of responsible, resilient business.' The system can now gather supply chain data from multiple sources, including suppliers, compliance documents and internal records; flag risks for proactive management; find holes in information necessary for compliance processes; help clients make decisions with a more holistic view of supply chain and more. It does so by leveraging AI to parse through the data, which it contends betters the data sets and allows for data to be used for many purposes, rather than being siloed. TrusTrace noted that the technology is applicable to small-to-medium businesses and large enterprises alike. It said brands and manufacturers are already using the upgraded platform, but did not disclose who the earliest clients testing the new system included. The announcement comes on the heels of the Swedish company's partnership with Avery Dennison, aimed at providing stronger transparency into raw materials' origins and uses throughout the supply chain, so that clients can discern a clear chain of custody. The collaboration saw Avery Dennison integrating TrusTrace's technology into its end-to-end supply chain solution, Optica. Kenny Liu, vice president and general manager S. Asia, EMEA and Optica at Avery Dennison, said the business relationship enriched the company's ability to provide meaningful information and insights to its clients. 'Navigating today's complex global supply chains requires reliable, streamlined access to comprehensive data,' Liu said in a statement. 'By integrating TrusTrace into our Optica portfolio of supply chain solutions, we're equipping brands with the tools they need to map their supply chains, verify raw material origins, and confidently meet evolving regulatory demands. This level of transparency empowers smarter sourcing decisions and ultimately drives meaningful impact across the entire supply chain.'
