Sustainable public blockchain offers opportunity for honest environmental, social and governance (ESG) reporting
The Proof of ESG initiative incorporates an agenda to reimagine ESG reporting through strategic blockchain reinvention and business transformation.
TAMWORTH, NEW HAMPSHIRE, UNITED STATES, October 24, 2021 /EINPresswire.com/ — Today, a new agenda to reimagine Environmental, Social, (Corporate) Governance reporting and environmental impact utilizing a sustainable, public blockchain was announced by SmartLedger, the world’s leading blockchain distribution channel.
The cutting-edge initiative called “Proof of ESG” includes a network of highly qualified and globally experienced professionals who have expertise across audit, blockchain, compliance, corporate governance, risk management and sustainability.
Created by Bryan Daugherty, a blockchain technical advisor and co-founder of SmartLedger, the Proof of ESG initiative will focus on the development of quality blockchain-based standards, solutions, and services that are critical for future energy-efficiency and environmental improvements across all sectors and industries.
We are proud to introduce the Proof of ESG concept to the world and seek to find other professionals and innovators that are searching for honesty and real impact.” — Eva Porras, PhD, Managing Director of SmartLedger
The mission of the organization is to help promote honesty and confidence in ESG programs and reporting. This can be done by ensuring the security, reliability, and accuracy of ESG reporting data through the implementation of a public blockchain framework, providing the confidentiality, integrity, and availability of records necessary for consumer confidence.
“Through the introduction and integration of blockchain and IoT, ESG frameworks and reporting data can be authenticated and verified, measuring the true environmental impact and carbon footprint of an organization.” said founder Bryan Daugherty. “All of the core capabilities of blockchain technology, such as the timestamp server mechanism, micropayments, immutability of records, data exchange, interoperability and economic incentives align to provide a Universal Source of Truth that will empower honest ESG reporting”
The first blockchain tool that the group is developing is an independently verifiable energy efficiency rating and reporting system for the BSV blockchain – a highly scaled and sustainable Proof-of-Work data management and monetization platform. Considered by some an off shoot of what is today known as Bitcoin, BSV has recently been independently verified to be more closely aligned with the original Bitcoin protocol as developed by the famed Satoshi Nakamoto according to MNP, one of the largest full-service chartered professional accountancy and business advisory firms in Canada.
“With so much focus on Bitcoin, blockchain and energy consumption, it’s important to first begin at the technology infrastructure level and find trusted ways to quantify, energy uses from green sources, and educating those about the true utility and energy efficiencies that a distributed ledger and small world network can provide.” said Dr. Dhirendra Shukla, President & Chair of Gray Wolf Analytics, one of the Proof of ESG workgroup participants.
The group intends to provide full-scope ESG blockchain consulting, technical expertise, and a host of plug-and-play API’s, enabling connectivity of IoT devices, databases, and applications, allowing them to easily interact and relay data from a range of sources to the blockchain.
Through their extensive collaboration of strategic partners and working knowledge of enterprise-blockchain solution deployment, Proof of ESG will assist organizations in establishing more impactful and verifiable ESG strategies.
“Trusted information, access and expertise is required to innovate, introduce, and implement transformative technologies. SmartLedger provides this through its specialized global network of blockchain technical experts, developers, engineers and independent transaction brokers.” said Eva Porras, PhD Managing Director, SmartLedger. “We are proud to introduce the Proof of ESG concept to the world and seek to find other professionals and innovators that are searching for honesty and real impact.”
The consortium of experts has already developed out-of-the-box ESG reporting solutions as well as additional ecological benefiting blockchain applications including:
- Incentivizing data collection and dissemination for better data-based decision-making including citizen science and other initiatives.
- Supply chain provenance and authenticity providing provable data testifying to certain attributes of a commodity or product that can greatly impact its social license.
- Utilizing a scaled public ledger to publish verifiable ESG related data to enable better consumer decisions and incentivize improvement of processes that reduce waste, impact and inefficiency created by almost every industry and supply chain on the planet today.
- Social reward token for a system that connects charities and other organizations with teams of volunteers that can help with a range of tasks.
- IoT integration with agricultural technology to reduce much waste that plagues that industry.
In coordination with a Virginia hemp farming and processing group, the Proof of ESG initiative intends to offer a peer-to-peer, tokenized carbon credit market allowing for individuals and businesses to trade credits for authenticated CO2 offsetting.
“Hemp is unique in that it can absorb more carbon from the atmosphere during its growth than by the equipment that is used to harvest, process, and transport it. Combined with rapid growth and potential of harvesting two crops per year, hemp is extremely more efficient in converting CO2 to a beneficial byproduct. There are endless applications in construction materials, composites, paper products, biofuel, food, and textiles that hemp can provide, further offsetting a company’s impact.” said A.K. Koyee, Operating Partner at PURE Shenandoah.
Based on hemp’s ability to sequester carbon and carbon negative crop potential, each crop can be tokenized, and the carbon credits sold by farmers and investors on an exchange for profit or reinvestment. The ESG Stamp initiative is developing solutions to authenticate the value of the harvest and provide a platform for peers to trade directly.
Interested parties seeking to collaborate or seek solutions are welcome to reach out through the organization’s website at: www.ProofOfESG.com
About Proof of ESG | The ESG Stamp Initiative
We believe that an honest ESG framework offers the ability to attract customers with more sustainable products; reduce cost, downtime and improve transparency; reduce regulatory and legal interventions; and improve organizational reputation, productivity, and organizational credibility.
With access to more than 250 patented and other blockchain innovations, SmartLedger helps its customers realize their full potential by implementing customized strategies using ground-breaking blockchain technologies.
About Gray Wolf AI
Gray Wolf enables Virtual Asset Service Providers to have more power to protect their customers from frauds and scams, reduce time required for compliance and enable more time for customer support and service, and improve their relationship with law enforcement and regulators.
About PURE Shenandoah
PURE Shenandoah understands that in order to create superior CBD oil, we need to control everything that goes into our products.
Source: Read Full Article