**Brussels**: The European Union has announced its Clean Industrial Deal, focusing on industrial policy reform to combat climate change and boost competitiveness. SMX aims to support the transition with tracking technology, positioning itself as a crucial player in meeting the Deal’s ambitious sustainability goals.
The European Union has unveiled its ambitious Clean Industrial Deal (CID), aimed at overhauling industrial policy and positioning Europe as a leader in the circular economy. The CID is intended to enhance industrial competitiveness while addressing climate change, aiming for a decarbonised and resilient economy by 2030.
A significant aspect of the CID is its focus on aligning the interests of various stakeholders—including businesses, environmentalists, and the public—by improving supply chain transparency and ensuring access to affordable energy. The CID seeks to simplify the complex processes involved in this transformation, potentially creating new avenues for cooperation among industries that typically operate in competition.
SMX, a company specialising in molecular traceability and authentication technology, sees the CID as a major opportunity as it prepares to capitalise on a market that is expected to grow significantly. SMX claims to offer a comprehensive solution for tracking materials from production to recycling, helping businesses navigate and comply with the new regulatory landscape set forth by the CID. It aims to convert waste into valuable resources, highlighting the financial advantages of embracing sustainable practices.
The CID’s objectives align closely with SMX’s capabilities, particularly in areas critical to the circular economy. SMX’s technology reportedly supports industrial decarbonisation, enhances supply chain transparency through blockchain-based tracking, and validates carbon footprints in accordance with the CID regulations. The company’s ability to secure compliance with EU mandates makes it a pivotal player in the circular economy’s evolution.
In addition to its traceability technology, SMX is introducing the Plastic Cycle Token, which incentivises recycling through a trading market. This initiative is linked to the CID’s goals of promoting recycling and ensuring the authenticity of materials in an economically viable manner. SMX’s tracking capabilities may also play a role in the EU’s forthcoming mandates around carbon-intensity labelling and digital audits of waste.
The CID is set to establish significant financial commitments, including the creation of an Industrial Decarbonisation Bank with an estimated contribution of $100 billion (EUR), aimed at supporting energy-intensive industries. As businesses work to adapt to these changes, SMX asserts that its solutions will enable companies to fulfil the stringent requirements of the CID, encompassing everything from authenticity verification to sustainability credit certification.
Industry experts note that the CID represents one of Europe’s most significant efforts toward industrial transformation, with the potential for SMX’s technology to not only meet compliance standards but also facilitate innovative practices across various sectors, including construction, textiles, and electronics.
As the European economy pivots towards sustainability, SMX is positioning itself as a key enabler of this transformation, ready to bridge the gap between regulatory compliance and practical implementation in the drive for a circular economy.
Source: Noah Wire Services
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