The aim of this post is to explain what are Digital Product Passports in the simplest way possible.
The European Union is dynamically preparing the Digital Product Passport regulation. Some countries may choose to implement measures quicker to ensure reducing the environmental impact of the fashion industry.
France is an example of this approach. France recently passed Loi AGEC (Décret n° 2022-748) went into full effect in January 2023.
This regulation applies to any businesses operating within France or conducting sales in the country, provided they have an annual turnover exceeding 10 million euros in France and have sold more than 10,000 items overall. This relates to items generating waste.
Businesses will need to not deem their products as friendly to the environment, having no impact on the environment due to usage of recyclable materials and so on. This aims at making sure the provided information is based on facts, not empty statements.
Businesses will also need to provide information to their customers about the environmental impact of all their products. This information must be freely accessible at the time of purchase.
Even if your business does not exceed the outlined threshold, becoming compliant has a range of tangible benefits regarding your relationship with customers, as outlined on our website.
Additionally, it does change the perception of your business as transparent and concerned with sustainability.
We perceive this regulation not as a burden, but as an opportunity for brands to continually track product ownership and establish direct connections with owners.
That is why taking proactive steps to implement anticipated solutions now provides a strategic advantage.
With Product Pass, AI effortlessly compiles all product information into individual Digital Product Passports, with no need for manual management from your side.
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The opinions expressed in this blog post belong to the individual or individuals authoring the blog posts affiliated with More Metaverse PSA and do not necessarily reflect those of More Metaverse PSA. Product Pass is a More Metaverse PSA service. This content is intended for informational purposes only and should not be construed as business or legal advice. Please consult your individual partners or advisers or contact us so that we can advise you where to receive certified legal advice provided by appropriate entities on matters related to the blog post above. We do not offer investment recommendations or legal advice. This content is not authorized to be treated as a reliable source of information for any prospective or current investors. It is also not authorized to be treated as a reliable source of information for any prospective or current clients of More Metaverse PSA. We rely on professional legal advice from regulated law firms when working with our clients, this resource is informational only. More Metaverse PSA has not independently verified this information and makes no guarantees regarding its accuracy or suitability for any specific purpose.
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