Latest Blogs on the Timber Industry & Trade Digitization

Digitization | September 7, 2022

Recently, the European Commission published a proposal for a Directive on Corporate Sustainability Due Diligence in February 2022. This publication proposes an EU standard for human rights & environmental due diligence. The main aim of this Directive is to bring international standards into the European law to prevent the negative consequences of global business activities.

Digitization | August 22, 2022

In an attempt to raise awareness of paperless documents and digital transactions by providing a uniform guideline for global businesses, in March 2022, the World Trade Organization (WTO) and the International Chamber of Commerce (ICC)’s DSI (Digital Standards Initiative) jointly published a standards toolkit for cross-border paperless trade.

Digitization | July 15, 2022

On the 10th of May 2022, in the Queen’s Speech which marks the beginning of the new UK parliament term, the UK Prime Minister and His Royal Highness the Prince Of Wales announced the Electronic Trade Documents Bill. The Electronic Trade Documents Report and Bill is one of the first pieces of proposed legislation that arose from The Law Commission’s recent focus on new technologies.

Digitization | June 3, 2022

In the Queen's Speech (the start of the new UK parliamentary term) on 10th May 2022, His Royal Highness the Prince Of Wales and the UK Prime Minister announced the Electronic Trade Documents Bill. This means that very soon legal barriers to digitalising commercial trade documents in English Law will be dismissed and we can aim for a paperless world.

Digitization | May 18, 2022

As of the end of 2021, the ICC (International Chamber of Commerce) formed a digital legal reform advisory board that comprises industry, policy, and intergovernmental actors in the trade finance and global trade sector, intending to accelerate reforms needed to enable digital trade.

Digitization | March 4, 2022

The G7 countries, an intergovernmental organization consisting of Italy, Japan, the UK, the US, Germany, France, and Canada, agreed to a framework in May that champions the work of UNCITRAL (United Nations Commission on International Trade) and promotes the adoption of its MLETR (Model Law on Electronic Transferable Records).

Digitization | March 3, 2022

Per shipment, there are distinct shipping, legal, and trade-related documents involved. Crucial information like tracking numbers, requested amendments, and drafts can easily get lost in transit. Hence, integrating a smart supply chain tool like Timber Exchange can minimize manual checks and ensure that everything goes smoothly without any hiccups on the way.

Digitization | February 14, 2022

The end of the year 2020 saw an MoU (Memorandum of Understanding) signed by the member states of the CEO-Bois, European Confederation of Woodworking Industries, about an initiative that digitizes the European timber industry. “TIMBIM”, the name given to this initiative, supports the constant collaboration and knowledge-sharing of the timber market between the participating member states.

Digitization | December 30, 2021

Rapid digitalization is affecting almost all aspects of life including the way people interact, shop, work, or receive services to create or exchange values. Digital data is one of the key factors of the economic sustainability of the world, as a whole. It has also become a major strategic asset for both social and private value.

Digitization | November 11, 2021

The twenty-first century is all about going digital, especially now, when the world is recovering from the Novel coronavirus (COVID-19) pandemic. Businesses are struggling to get their footing back in the industry and reach the targeted clientele who are probably sitting at home in front of their screens, working, instead of going out.