ForesTrust Announces Leadership Council with Wakefield Biochar to Pioneer Transparency in Forest Supply Chain

6-14-23). ForesTrust Announces Leadership Council with Industry Leaders to Pioneer Transparency in Forest Supply Chain Press Release.

Retrieved from https://www.usendowment.org/forestrust-announces-leadership-council-with-industry-leaders-to-pioneer-transparency-in-forest-supply-chain/

Greenville, SC– June 14, 2023- ForesTrust, LLC, a wholly owned subsidiary of the U.S. Endowment for Forestry and Communities, is proud to announce its groundbreaking venture with industry leaders in the forestry sector. The newly formed Leadership Council of ForesTrust includes Domtar, Wakefield Biochar, Thompson Appalachian Hardwoods, Enviva, and the U.S. Endowment for Forestry and Communities, with technology support from Chainparency.

ForesTrust is a revolutionary blockchain network that utilizes cutting-edge technology to register transactions in an unchangeable digital ledger. Through a consensus protocol, each transaction’s veracity and data integrity are ensured, providing a secure and streamlined forest product and fiber supply chain.

The forest sector has long been committed to responsible forest management, and ForesTrust empowers it to showcase sustainability through real-time supply chain data and verifiable carbon accounting. By tracking the movement of wood and fiber from origin to the consumer, the blockchain ensures transparency while maintaining anonymity through hashed blocks. This information can be accessed for compliance, auditing, certification, requests for information, and administrative management purposes. Additionally, ForesTrust can capture data supporting ecological benefits such as water quality, biodiversity, and stored carbon accounting, highlighting the positive environmental contributions of forestry.

ForesTrust’s Leadership Council brings a wealth of expertise and industry knowledge to the collaboration. Domtar and Wakefield Biochar, renowned for their commitment to sustainable practices, join forces with Thompson Appalachian Hardwoods, a trusted provider of high-quality wood products. Enviva, a leading global energy company specializing in sustainable wood bioenergy, also contributes its expertise. Together with the U.S. Endowment for Forestry and Communities and Chainparency, these organizations form a strong alliance dedicated to advancing forest product supply chain sustainability and transparency.

ForesTrust is poised to transform the forestry industry by harnessing the power of blockchain technology. The formation of the Leadership Council between these industry leaders, the U.S. Endowment for Forestry and Communities, and Chainparency marks a significant step toward a more transparent and sustainable future for our forests and the communities that rely on them.