Of the past few years we've been keeping an eye out on the sustainability trends in cosmetics, as demand for more sustainable products is growing. There is also more pressure for the cosmetics industry due to updates in regulations. In December we already told you about the United Nations’s Nagoya Protocol on Access and Benefit Sharing (ABS). The Union Of Ethical BioTrade just recently announced that they have certified their first two customers ensuring ABS compliance.
What is ABS again?
In 2014 the United Nations’ Nagoya Protocol on Access and Benefit Sharing (ABS) entered into force as a supplementary agreement to the Convention on Biological Diversity. The objective of the Nagoya Protocol is to help conserve our biodiversity by sharing the benefits from its utilization in a fair and equitable way. The protocol allows for the tracking of genetic resources such as active ingredients used in R&D from provider to user all the way to innovation and potential commercialization.
The Union Of Ethical BioTrade was created in 2017 to promote business engagement in the ethical sourcing of biodiversity. They have been developing their standard for ABS-compliance since then. The announcement of two cosmetic companies, Weleda and Natura, proved that ABS compliance is really getting steam.
Consumers are wanted to know more and more about there products and consumers of cosmetic products are anything but an exception. This is part of a larger trend where cosmetics are becoming more and more sustainable.
Meet your ABS obligations today!
As an expert in traceability software solutions, ChainPoint can help your company meet its ABS track and trace obligations by among others by automating the collection of information related to compliance along the supply chains of your natural ingredients [rewrite]
Do you want to know more? Please download our solution paper for the cosmetics industry now!