Continental Commits to Sustainability in Natural Rubber Supply Chain with HeveaConnect.
- With immediate effect, Continental will handle part of its natural rubber purchasing via HeveaConnect’s digital trading platform which ensures greater transparency and sustainability in the natural rubber supply chain
HANOVER, GERMANY, 14 Dec 2021 – With immediate effect, the premium tire manufacturer Continental will handle part of its purchasing of natural rubber through a digital trading platform designed to ensure greater transparency and sustainability in the natural rubber supply chain.
“Our goal is to procure all materials from responsible sources. The key to achieving this lies in innovative technologies and digitalization, which can make a decisive contribution to transparency in complex supply chains,” says Dr. Andrea Appel, Head of Purchasing of the Tires business area at Continental. She adds: “HeveaConnect shows how digital platforms enable solid analyses of complex supply chains as well as their targeted management. Ecological, social and financial risks are made equally transparent for all market participants.”
The HeveaConnect platform validates key aspects of a sustainable supply chain and ensures compliance through transparency and special offers. Platform participants are provided with a dashboard showing standardized information on quality, traceability, and compliance with social and environmental standards, as well as information on average selling prices. In addition, Continental can use the platform to call up offers from rubber suppliers in real time, compare and negotiate them, conclude short- or long-term supply contracts and document them electronically.
Consulting services with special conditions that demonstrably adhere to certain minimum standards are made available to natural rubber producers via HeveaConnect. For example, it is possible to integrate results from analyses carried out by Rubberway, a sustainability risk analysis joint venture between Continental and Michelin.
“Our platform aims to make trading in physical natural rubber more efficient, transparent and provide buyers with key sustainability focused data to make better procurement decisions. We create data-backed rubber by pairing the sustainability information with the physical rubber product that is traded on our platform. Continental has long been committed to sustainable supply chains and we are delighted to have them join HeveaConnect. Through the engagement of Continental and other industry players on our trading platform, we are one step closer to creating data-backed physical indices. With the help of the Singapore Exchange (SGX), we thus aim to complement the SICOM benchmark, the global price index for natural rubber, with an index with greater price granularity”, explains Gerald Tan, CEO of HeveaConnect.
Singapore founded and based HeveaConnect brings you the future of commodities trading. We are at the forefront of digitalising the natural rubber supply chain across the globe to create a data-enriched, technology-powered ecosystem. This digital transformation enables deeper analysis of the supply chain to uncover environmental, social and financial risks allowing targeted interventions.
At HeveaConnect, we use technology to enable data transparency and strengthen trust. We provide industry intelligence and insights to empower our customers to make smarter decisions. We strive to identify issues and deliver solutions that will redefine how commodities are produced and traded.
For more information, please visit www.heveaconnect.com.
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Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2020, Continental generated sales of €37.7 billion and currently employs more than 192,000 people in 58 countries and markets. On October 8, 2021, the company celebrated its 150th anniversary.