September 20, 2023
BanQu & Cargoo announced a major partnership today that will make it easy for companies to meet EUDR due diligence requirements and certification.
“We are thrilled to announce the cooperation between BanQu and Cargoo,” said Jahn Widmer, CEO of Cargoo. “Through this cooperation the compliance with EUDR reporting has become even simpler and covers everything from source to final destination.”
BanQu is a supply chain traceability SaaS that helps companies collect & report on compliance, procurement, and Scope 3/ESG data across value chains down to the first mile. Cargoo is a digital platform that covers the entire shipment process, including booking, documentation and certificates, and tracking and reporting.
The EU Deforestation Regulation (EUDR) prohibits the import and sale of products in the EU which have contributed to deforestation. Current affected commodities include cocoa, coffee, soya, palm oil, cattle, wood, and rubber. The deadline for compliance is December 2024.
Until now, companies have had to cobble together information from multiple systems, spreadsheets, shipping and freight manifests, and more to meet this end-to-end requirement. And these solutions have not achieved full traceability.
This partnership and integration revolutionizes EUDR due diligence certification and mitigation and offers a truly end-to-end comprehensive solution. For full compliance with EUDR, traceability of the full journey of the seven EUDR-affected commodities is key: the first-mile polygon and geolocation from a farm and an unbroken chain of custody to bills of lading from exporter to importer to final product. With BanQu and Cargoo, companies achieve seamless compliance and traceability through the entire supply chain journey.
Ashish Gadnis, CEO of BanQu, noted of the partnership: “I am beyond thrilled with this timely partnership; it fills the gaps in EUDR compliance for companies and brings the strength of two incredible platforms together.”