EY launches EY OpsChain ESG to track carbon credits and emissions

EY, a professional services firm, announced on Wednesday the beta launch of EY OpsChain ESG, a product that accurately tracks carbon credits and emissions through tokenization.

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Fast facts

• Through the Ethereum-based EY OpsChain ESG, companies can track carbon credits throughout their entire lifecycle, including creation, transfer, and retirement. Blockchain technology enables transparency and security throughout the process.
• EY OpsChain ESG uses tokenization to track carbon credits and emissions, enabling companies to have a clearer understanding of their carbon dioxide equivalent positions.
• The platform is built to InterWork Alliance for Carbon Emissions Tokens standards, ensuring the reporting is immutable and independently verifiable through integrating emissions data validators.
• EY is one of the “Big Four” accounting firms, along with Deloitte, PricewaterhouseCoopers and KPMG.
• Earlier this week, Deloitte announced a partnership with finance and tech giants to launch the Canton Network, a blockchain that aims to link institutions and financial assets with improved privacy and lower cost.

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