(1 April 2022 – Europe) Increased use of bar codes for international trade can force global supply chains to become more robust and improve the ability to verify environmental, social and governance (ESG) standards.
Broader applications of the nearly five decade old system of barcode identification standards would force complex interconnected global supply chains to become more environmentally and socially sustainable, improve safety and security for key goods like food and medicine and generally make trade more efficient, sustainable and inclusive. The non-profit global organization in charge of barcode standards that make the technology possible, known as GS1, is joining with governments and multinational organizations to spread its use throughout global supply chains and make the information contained in bar codes more accessible.
So far, the European Union (EU), the United States and the People’s Republic of China (PRC) have begun using GS1 standard identification tools at their borders. Only one in four Asia and Pacific economies have either adopted the GS1 standards for their borders or are actively considering adoption.
“To keep goods moving, to identify and fix problems within supply chains and for less red tape and hassle for smaller companies at borders, that needs to change” stated ADB’s Head of Trade and Supply Chain Finance Program, Steven Beck.
“Despite its success so far, the bar code needs to continue its penetration into the global economy to make global supply chains more robust, and to underpin our ability to verify social and environmental standards” Beck added.