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- The Hedera Hashgraph and Deloitte have partnered to enhance the verification of companies’ ESG impact.
- The Deloitte ESI platform is set to transform how companies prove their net-zero and ESG claims.
The Hedera Hashgraph has announced a partnership with Deloitte to enhance the verification of companies’ ESG impact and sustainability claims. This partnership aims at fighting greenwash and proper, tangible impact reporting through a new tool, Environmental & Social Impact (ESI), built on Hedera DLT.
BREAKING: @Deloitte leverages the @Hedera Hashgraph network, a cutting-edge distributed ledger platform renowned for its efficiency and security.https://t.co/Mzht4QaAFr#Crypto #Cryptocurrency #CryptoNews #Hedera #Hashgraph #HBAR #Bockchain #IoT #RWA #DePIN #AI pic.twitter.com/K9ctGyatiH
— LEVEL UP TRADING (@Leveluptrading) July 9, 2024
The Deloitte ESI platform, built on the Hedera public network, is set to transform how companies prove their net-zero and ESG claims. The platform, based on blockchain technologies, ensures data integrity and enables the reliable verification of sustainability claims.
In line with the UN’s Sustainable Development Goals (SDGs) and multiple ESG frameworks, the ESI platform assists organizations in managing, monetizing, and reporting on sustainable efforts that also satisfy legal obligations. This alignment is crucial since it helps solve the credibility issue regarding the sustainability reports of companies.
Another important feature of the ESI platform is the Hedera Guardian, which improves the verification process. For this reason, The Guardian features tokenized quantitative outcomes to foster clear and irreversible documentation of sustainability effects that were intended for carbon markets.
Hedera’s Sustainability Venture Studio
This comes after Hedera Hashgraph rolled out a $50 million Sustainability Venture Studio to support sustainable projects on the Hedera Guardian.
This initiative strengthens the partnership’s capacity to support sustainability claims through the creation of a trust layer for multi-stakeholder data and the integration of digital measurement, reporting, and verification functions. Additionally, the ESI platform allows for the development of quantifiable and audited evaluations of sustainability or impacts that can be monetized, traded, and disclosed.
Kamal Youssefi, President of The Hashgraph Association, stated,
“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. In the face of mounting climate pressures, the integrity of environmental claims is crucial. Together with Deloitte, we are spearheading a shift towards true accountability and transparency in corporate sustainability.”
ESI Platform’s First Use Case in Curaçao
The first use-case of the ESI platform is the Mangrove Reforestation project in Curaçao where Deloitte NL is the leader and the Ryan de Jongh Charity Foundation is the helper. This project linked the ESI platform with the Hedera Guardian to make the effect created by the carbon offset project transparent.
The verification process of the programme uses decentralized identity, satellite imagery, and other progressive modeling to measure its effectiveness properly. In the coming months, more and more companies and organizations will come on board, thus, expanding the overall ESG effect of this partnership in different sectors.
As previously mentioned in our report, Santiment analysis highlighted that Hedera is still leading in the cryptocurrency development section. This ranking indicates the number of non-redundant development activities in the last 30 days, which proves Hedera’s activity. Moreover, Hedera’s dominance in development is evident through its strong and active developer community. As of this writing, Hedera is currently trading at $0.06772 with a 24-hour increase of 0.02%.