EY has launched EY OpsChain ESG on its Blockchain SaaS platform to provide a single view of CO2 emissions for businesses.
According to EY, the solution will address the needs of enterprises that struggle to accurately measure and track their carbon footprint. It will also provide consumers, business partners and regulators with the transparency they demand via a trusted platform for emissions and carbon credit traceability within an ecosystem through the use of tokenization.
By tokenizing products’ emissions, EY OpsChain ESG provides enterprises with a clear understanding of their CO2e positions, which helps drive better informed decisions on their ESG journey.
Built to the standards of InterWork Alliance for Carbon Emissions Tokens, EY OpsChain ESG provides immutable reporting on an enterprise’s current CO2e that is independently verifiable through the integration of key emissions data validators. The solution also enables enterprises to demonstrate authenticity of the carbon offsets used to reduce their environmental impact as they decarbonize.
EY Global blockchain leader Paul Brody said, “Like all EY enterprise solutions, EY OpsChain ESG was developed based on the conviction that blockchains are the glue that can link business processes and global ecosystems across enterprise boundaries. Detailed traceability allows for tracking of emissions inventory through tokenization including the ability to link carbon output to specific product output.
“By using carbon credit tokens, either created or sourced on the market, enterprises can now have visibility into both their actions towards decarbonization.”
Sam Azad – EY OpsChain ESG product owner – added, “Transparency in sustainability is now table stakes for consumers, business partners and regulators. With net-zero targets under more scrutiny than ever before, our new solution presents enterprises with the opportunity to tell their organization’s ESG story on a digitally trusted platform.”
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