According to the European Environment Agency (EEA), emissions from the European Union's (EU) transport sector increased steadily between 2019 and now. It is also predicted that transport emissions will significantly rise in subsequent years following the pandemic. To tackle rising emissions from maritime and road transport, the EU is working to align current climate, energy and transport-related legislation ambitions through what is known as the 'Fit for 55 package'(https://www.consilium.europa.eu/en/policies/green-deal/fit-for-55-the-euplan-for-a-green-transition/), in which transport logistics will no longer be exempt from carbon certificate trading as of 2026 and will need to apply the EU Emissions Trading System (EU ETS). The package has also called for changes to the existing EU ETS, requiring sectors included in the trading system to reduce their emissions by 43% compared to 2005 levels.

MCG UK team will tap into the growing market for carbon credits companies buy to offset their GHGs as the world transitions to a low-carbon economy in the fight against climate change. If a company wants to qualify the sustainability of materials, it can use MCG blockchain-enabled supply chain traceability and carbon visibility solution to track and trace their end-to-end supply chain flows. Such transparency ensures that the raw materials are coming from certified sustainable sources and being used responsibly. It also helps to prevent the use of unsustainable or unethically sourced materials from the tier-n suppliers. MCG will expand the product to different models of transport and by accessing new technologies. The key innovation support will allow MCG to expand in the global market, MCG will partner on replicating the innovative practice and business model, continuing the momentum for the growing revenue stream and attracting international clients. MCG can now service and expand its network of carriers and shippers to the UK and further into Europe, as well as address specific logistics needs of different industries such as the temperature-sensitive pharmaceutical and healthcare industries. The blockchain-powered supply chain traceability and data services provided by MCG have demonstrated its value proposition in the pharmaceutical and healthcare industry, the prototype we developed with AWS (Amazon Web Services) and UBC (University of British Columbia) (https://cic.ubc.ca/project/vaccine-distribution-supply-chain-prototype/) laid a solid foundation for reducing the waste of life-saving products by sharing real-time temperature and location, the carbon intensity measurement tools could be integrated to our customized dashboard VUILA, to tackle the opaque carbon accounting and tracking practices in the global maritime industry.