LMEpassport is the new electronic certificates of analysis (CoA) and digital credentials register from the London Metal Exchange. A key component of the LME’s sustainability strategy, LMEpassport is designed to provide participants with two key services:
- a digital store for electronic CoAs of metal physically delivered into and out of the LME ecosystem, replacing the current paper-based model
- a facility for recording information related to metals’ sustainability
COA and sustainability provenance
CoAs are key quality assurance documents that must accompany shipments of LME metals into and out of warehouse. They show the purity, size and shape of a batch of metal.
LMEpassport digitises this process, doing away with (often damaged or lost) paper records, bringing more certainty, accessibility and transparency to the process.
LMEpassport will also allow other value-add information relating to sustainability – like a metal’s carbon footprint or other sourcing credentials – to be included, on a voluntary basis.
Who is the system for?
LMEpassport went live on 31 August, but the requirement for warehouse companies to start using the system will be rolled out gradually over 18 months, starting with aluminium in October 2021.