EY, a renowned professional services organization around the world, has introduced a new ethereum-based platform designed to help companies monitor their carbon emissions and the origin of their carbon credits.
At the EY Blockchain Summit, which took place in London, the new platform known as EY OpsChain ESG was presented.
Carbon emission tokens developed by the InterWork Alliance, a Microsoft-funded standards group and member of the Global Blockchain Business Council (GBBC), of which EY is also a member, are now available on the beta version of the EY Blockchain SaaS platform. .
GBBC is an organization that promotes the use of blockchain technology for business purposes.
Paul Brody, the global blockchain leader at EY, believes that blockchain technology has the potential to act as the “glue” that binds together global ecosystems and business processes that extend beyond company boundaries.
As a result, this conviction serves as the basis for the new platform.
In addition, he said that the ability to link carbon production to the production of a specific product makes it feasible to monitor carbon emissions inventory through tokenization. This is something he mentioned before.
The development of the EY OpsChain ESG platform marks a major step forward in environmental and social governance. This issue has attracted the attention of various professionals working in environmental and social governance.
Blockchain technology is used by companies from various sectors, from the trade finance business to the food industry, to monitor and track different elements of their operations.
Carbon credit tokens, which can be created themselves or purchased on the market, now allow companies to monitor the progress of their decarbonization initiatives.
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By launching its EY OpsChain ESG platform, EY is making a significant contribution to the effort to combat the effects of global warming.
With the help of this platform, companies will be able to track their carbon output and the origin of the carbon credits they hold, making it easier for them to achieve their sustainability goals.
On the EY Blockchain SaaS platform, companies are strongly encouraged to beta test and provide feedback to help further development and expansion.
