Supply Chain Mapping Pioneer Sourcemap Sees 2,000% Growth in Demand for Anti-Deforestation Platform in Wake of Landmark EU Regulation

Leveraging the solution, businesses gain unparalleled visibility into origin mapping data, real-time risk monitoring, supplier engagement and more

NEW YORK, April 20, 2023 /PRNewswire/ -- Sourcemap, the leading global provider of supply chain mapping and monitoring software, announced a 2,000 percent growth in demand for its Anti-Deforestation Platform in response to the landmark EU Deforestation Regulation adopted on April 19, 2023. The only automated solution for deforestation risk management and compliance available on the market today, Sourcemap's Anti-Deforestation Platform provides customers with real-time farm mapping, deforestation monitoring and reporting to help businesses comply with new and emerging regulations globally.

Following the European Parliament's decision to adopt the EU Deforestation Regulation, businesses must disclose any risks within their supply chains related to deforestation and forest degradation when sourcing commodities including: charcoal, cocoa, coffee, cattle, soya, palm oil, printed paper products, rubber, wood and timber, including products that contain, have been fed with or have been made using these raw materials (such as leather, chocolate and furniture). Products that come from deforested land or have led to forest degradation, including irreplaceable primary forests, after December 31, 2020, will not be allowed to be sold in the EU. Pending the official publication of the law across the EU, companies will have 18 months to report their risk assessments and implement remediation strategies, or risk economic penalties, supply chain disruptions and more.

"The EU's first-of-its-kind deforestation regulation signals a paradigm shift toward 100 percent visible supply chains all the way down to the point of origin," said Marissa Brock, Senior Director of Policy and Government Affairs at Sourcemap. "As similar regulations and directives take effect in Europe and beyond, companies will need enhanced solutions that can unequivocally prove their compliance."

Founded over a decade ago to address human rights and environmental concerns in the supply chain, Sourcemap was the first to pioneer supply chain-wide anti-deforestation technology, adding the solution in 2016 to its broader supply chain offerings. Sourcemap's Anti-Deforestation solution is already in use by more than 125 brands across food, apparel, automotive and home goods.

As regulations usher in a new era of business transparency and accountability, customers are leveraging Sourcemap's Anti-Deforestation Platform for:

• Complex Supply Chain Mapping for All Products using a universal standard for origin mapping data exchange compatible with technology already in use, from mobile mapping apps to enterprise supply chain databases
• Real-Time Deforestation Risk Monitoring using the best available satellite imagery and biodiversity hotspot data
• Continuous Improvement to ensure that suppliers are engaged and improving land management practices
• On-Demand Reporting to instantly generate user-friendly supply chain maps for communicating anti-deforestation achievements with key stakeholders

"For a decade, companies have relied on Sourcemap to track and eliminate instances of fraud, forced labor and deforestation within their supply chains," said Leonardo Bonanni, CEO and founder of Sourcemap. "Supply chain transparency is now a business imperative, and as the leading provider of supply chain mapping, transparency and due diligence technology, Sourcemap is an essential resource to future-proof any business with a global supply chain."

ABOUT SOURCEMAP

Sourcemap is the leading global provider of supply chain mapping and monitoring technology. Major traders, manufacturers and brands have adopted Sourcemap's full-suite solution for assurance on the raw materials-to-finished goods supply chain, including ongoing monitoring for production, quality, sustainability and risks such as deforestation and forced labor. Sourcemap is one of Fast Company's Most Innovative Companies of 2023 and the Sourcemap Forced Labor Due Diligence solution was named to TIME's Best Inventions of 2022. To learn more, visit www.sourcemap.com.

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Mission Control Communications for Sourcemap
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SOURCE Sourcemap