CHARLOTTE, N.C, Oct. 1, 2024 /PRNewswire/ — ResourceWise®, a leading provider of pricing, market intelligence and sustainability solutions, is proud to announce the launch of Forest Trackt™, an end-to-end compliance solution designed to help companies adhere to the European Union Deforestation Regulation (EUDR). This innovative technology is set to transform how businesses demonstrate supply chain transparency.

Forest Trackt integrates advanced technology, including automated geo-location of source coordinates, machine learning, and advanced algorithms, to enable businesses to trace the origins of wood-based commodities accurately. Forest Trackt enhances transparency across the supply chain, providing a robust framework for meeting the stringent requirements of the EUDR.

Key features of Forest Trackt include:

Forest Trackt is engineered to streamline compliance, minimizing manual workload while maximizing compliance accuracy and assuring audit readiness. Businesses that adopt this solution can look forward to increased efficiency and reduced risk of non-compliance penalties, thus future-proofing themselves against evolving regulatory landscapes.

“The penalties for failing to comply with EUDR are steep. For example, US manufacturers of pellets, pulp, paper, and lumber have roughly $4 billion in revenue at risk. At ResourceWise, we recognize the challenges companies face in implementing transparency standards,” said Pete Stewart, CEO of ResourceWise. “With Forest Trackt, we aim to simplify compliance processes and empower businesses to achieve their sustainability goals with confidence and ease.”                                                                             

“The regulatory environment for the forest products industry is becoming more complex,” said Stewart. “With the launch of Forest Trackt, ResourceWise continues its commitment to helping those in the forest products industry meet their financial and sustainability goals.”

For more information about Forest Trackt and how it can benefit your business, visit www.resourcewise.com/foresttrackt.

Contact:

Suz-Anne KinneyVice President, MarketingResourceWisePhone: +1 704 451 7312Email: suz-anne.kinney@resourcewise.com

About ResourceWise:

ResourceWise is a commodity price reporting agency with proprietary datasets and deep expertise in forest products, biofuels and low-carbon feedstocks, biomaterials, and chemicals industries. We help our customers make better decisions by providing accurate data and analytics, which we supplement with strategic consulting. Because our markets are energy-intensive, we use our data and expertise to help our customers identify and navigate decarbonization pathways and industry-related regulatory requirements. 

ResourceWise legacy companies include Chemical Intelligence, Fisher International, Forest2Market, Prima Markets, Tecnon OrbiChem, and Wood Resources International.  

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