EY, a global professional services firm, has unveiled EY OpsChain ESG, an innovative solution built on the Ethereum blockchain. This platform aims to assist companies in accurately assessing and monitoring their carbon footprint while ensuring transparency and traceability for carbon credits.
EY’s new solution, currently in beta on their Blockchain SaaS platform, facilitates enterprises in attaining and reporting a credible understanding of their CO2 status by tokenizing emissions associated with their products. The platform adheres to the standards set by the InterWork Alliance for Carbon Emissions Tokens, an industry certification program dedicated to tokenizing emissions.
In summary, EY OpsChain ESG on the Ethereum blockchain presents an advanced tool for enterprises to precisely measure their carbon footprint, fostering accountability and enabling a more transparent approach to carbon credits.
Paul Brody, EY Global Blockchain Leader, says:
“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, says:
“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.”