Preferred by Nature is launching a new and improved Sourcing Hub
With its detailed legality risk data, the Sourcing Hub is the first port of call for companies and authorities when evaluating risks relevant to responsible sourcing of forestry and agro-commodities. Preferred by Nature is now launching an improved version of the database with new features, which will make it easier for users to mitigate risks in their supply chains.
Responsible sourcing has never been more critical for companies. This is due to the increasing number of policies and legislation introduced by countries to ensure that imported commodities have been legally and sustainably produced. The EU Timber Regulation (EUTR), U.S. Lacey Act, or most recently the EU Deforestation Regulation (EUDR) are just a few examples of such applicable regulations. For several years, the Sourcing Hub has been a trusted tool, which companies rely on to comply with regulations.
To ease the navigation of companies on this platform, we are introducing a new version of the Sourcing Hub. The newly added features will help companies to easier identify legality and sustainability risks related to their supply chains.
"We are excited to have given the Sourcing Hub a major upgrade, including a new user-friendly interface. At its core, the Sourcing Hub is about engaging with companies wanting to deliver on their sustainability targets and commitments," said Jakob Ryding, Director at Preferred by Nature.
In the new Sourcing Hub, users can create their own user profiles that focuses searches to what is relevant for their specific supply chains and be alerted whenever there are changes. In addition, the new features will help companies to not only identify risks in their own supply chains, but also provide them with the outline of what is required to mitigate those risks.
"Moving on from the EUTR, we will see many new industries affected by the EU Deforestation Regulation. Going forward, we will be updating our risk assessments in the Sourcing Hub to also include deforestation risks. We believe the Sourcing Hub can play a pivotal role for companies that now need to comply with the EUDR," said Jakob Ryding.
About the Sourcing Hub
The Sourcing Hub was initially launched in 2017 as part of Preferred by Nature's work to help companies comply with the EU Timber Regulation. It comprises an ever-growing list of timber legality risk assessments for 70+ countries worldwide.
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