Intercontinental Exchange, Inc. (NYSE:ICE) today announced that ICE Benchmark Administration Limited (IBA) is collaborating with Space Intelligence, a provider of high accuracy nature mapping data, to launch the ICE Commodity Traceability Service (ICE CoT).
ICE CoT is a technology platform designed to facilitate the continued frictionless trade of physical cocoa and coffee by automating the process of submitting, storing, validating and sharing due diligence information mandated by the European Union’s Deforestation Regulation (EUDR). The EUDR is designed to reduce the EU’s impact on global deforestation and forest degradation by requiring proof that specified goods entering or sold in the EU are “deforestation-free” and lawfully produced. Europe is the largest market for cocoa and coffee worldwide.
“We are excited to…
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