The Hashgraph Association (THA) has embarked on a significant collaboration with Deloitte, focusing on the enhancement of corporate ESG impact and sustainability verifications.
This partnership utilises the expertise of Deloitte NL Risk Advisory B.V. in The Netherlands to bolster ESG verifications and promote a carbon-neutral future. By offering solid proof, the initiative directly addresses and diminishes concerns of greenwashing, according to a report from FinTech Finance News.
At the heart of this initiative is the Environmental & Social Impact (ESI) platform, a cutting-edge solution based on distributed ledger technology (DLT) crafted by Deloitte and implemented on the Hedera DLT public ledger. This platform is engineered to convert corporate ESG efforts into tangible, credible claims. By exploiting the transparency, security, and immutability of blockchain technology, the ESI platform ensures the integrity of data and streamlines the verification of sustainability claims.
The ESI platform is fully aligned with the United Nations’ Sustainable Development Goals (SDGs) and complies with numerous ESG standards. It enables companies to effectively measure and capitalize on their sustainability impacts, demonstrating their commitment while adhering to regulatory demands. This strategic alignment is crucial in bridging the credibility gap often found in corporate sustainability assertions.
The Hedera Guardian plays a central role in the ESI platform’s verification process, establishing a trusted layer for multi-party data. It supports the digital measurement, reporting, and verification of sustainability claims and is initially tailored for the carbon markets. The Guardian aids in producing a transparent and immutable record of sustainability impacts, facilitating the creation of tokenized, quantifiable outcomes.
Kamal Youssefi, President of The Hashgraph Association, expressed his enthusiasm about the collaboration, stating, “This collaboration with Deloitte embodies our commitment to sustainability. With the Hedera Guardian’s innovative tooling on the ESI platform, we’re not just setting benchmarks but rewriting the rules of accountability on a global scale and bringing the balance sheet of the planet to the public ledger.
“In the face of mounting climate pressures, the integrity of environmental claims is crucial. Together with Deloitte, as one of the Big Four global accounting firms, The Hashgraph Association is spearheading a shift towards true accountability and transparency in corporate sustainability.”
The first practical deployment of the ESI platform involves the Mangrove Reforestation project in Curaçao, led by Deloitte NL in partnership with the Ryan de Jongh Charity Foundation. This project leverages advanced technologies such as decentralized identity and satellite imagery to meticulously track and verify its carbon offset impacts.
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