Circularise and GoodFuels have announced a new project aiming to digitise the biofuels record management process required for RED II compliance.
ccording to GoodFuels, throughout this innovative project, FincoEnergies shared their knowledge on bookkeeping processes with Circularise to expand its MassBalancer traceability software suite to include the biofuels supply chain, adding ISCC EU certification as an additional supported framework.
What is European Union’s RED II?
The European Union’s RED II regulation aims to ensure that biofuels provide a truly sustainable alternative to fossil fuels. As part of this regulation, records must be maintained for the sourcing, chain of custody, and GHG emissions of the biofuel product process and then verified by a third-party certification scheme such as ISCC EU.
By leveraging digital technologies to trace the chain of custody and impact of the biofuels, we can shed light on opaque supply chains and guarantee that these fuels serve as a truly sustainable alternative to fossil fuels.
… said Jordi de Vos, co-founder of Circularise
Adding a digital method of record management will increase information security and ease-of-use for any organisation that needs to report their biofuels feedstock and supply chains, GoodFuels explains.
By digitising the record keeping process, information on the chain of custody and GHG emissions of the biofuel products can be efficiently audited. supporting a trustworthy and fair marine biofuels industry, GoodFuels concluded.
Transparency and trust are critical to the supply chains of all marine fuels, but especially biofuels, where we must be able to demonstrate our sustainability claims easily and with confidence.
… commented Paul Bakker, Digital Development Manager at FincoEnergies