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Advancing sustainability in life sciences with blockchain

7 MINS READ

Amit Jain

Senior Consultant, Life Sciences

Highlights

  • The increasing focus on sustainability among regulatory agencies in pharma and life sciences is adding pressure on businesses to relook at their sustainability goals.
  • Blockchain technology can address the end-to-end traceability, transparency, and auditability challenges across supply chains in various industries, by bringing together all the ecosystem players on a single platform. 
  • The technology also improves sourcing and recycling practices and allows consumers to make more informed purchasing decisions, enabling them to consume sustainable products and services. 
  • Manufacturers play a key role in ensuring the suppliers onboarded in the journey contribute to a greener ecosystem, by getting insights into the supplier's climate action maturity, setting targets, monitoring data, and incentivizing and recognizing carbon reductions.