New: 2024 Deforestation Regulation Readiness report

What is Accountability?

Accountability in a business context refers to the principle that individuals and organisations are responsible for their actions and decisions and must be able to account for them to stakeholders. It involves transparency, ethical behaviour, and a commitment to reporting and explaining outcomes.

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Related terms

Wood Products

Wood Products refer to a wide variety of goods derived from trees and forests, including lumber, plywood, paper, furniture, and other items made from wood fibres. These products are integral to numerous industries and everyday life, offering benefits such as carbon sequestration, renewable material, and versatility.

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Chain of Custody

Chain of Custody (CoC) refers to the process of documenting and verifying the sequence of custody and control over materials and products within a supply chain.

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Proof of Authority

Proof of Authority (PoA) is a consensus mechanism used in secure digital ledger networks where transactions and block creation are validated by approved accounts, known as validators.

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