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
CoAs in LMEpassport
CoAs are key quality assurance documents that must accompany all shipments of LME metals into and out of warehouse. They show the origins, purity, size and shape of a batch of metal.
LMEpassport digitises CoAs, doing away with paper or PDF records which can often be damaged or lost as metal travels around the world. The digitised CoAs bringi more certainty, accessibility and transparency to the process.
LMEpassport and sustainability provenance
LMEpassport offers metal brand producers the opportunity to voluntarily input other value-add information relating to sustainability. These credentials and disclosures can include information such as:
- environmental goals such as carbon emissions, biodiversity, recycling, reducing and mitigating polluting activities
- social considerations, including human rights, impact on communities, health and safety
- governance objectives, for example corporate structure, risk management and bribery and corruption controls
- and a variety of other sourcing credentials.
Who is the system for?
LMEpassport went live on 31 August 2021. The requirement for warehouse companies to start using the system will be rolled out gradually over 18 months, starting with aluminium in October 2021, moving on to include lead and zinc in June 2022, and expanding to all physically delivered metals in January 2023.
From January 2024, LME brand producers will be required to register enhanced CoAs for their metals in LMEpassport, to ensure their metal is warrantable.