How can you track something as nebulous as energy, quantify ESG, or check millions of data points? The Topl Blockchain can make challenging activities easy.
Thanks to shifting generational values, ESG has become a powerful tool in business, investing, and spurring practices that are better for people and our planet. This development is certainly worth celebrating. The truth, though, is that not all businesses are as committed to ESG as they claim. Greenwashing, the act of misrepresenting environmental impact, has been a serious problem since the 1980s.
How can everyday consumers separate the pretenders from the ESG leaders? On the business end, how can the true leaders prove their ESG practices?
The Topl Blockchain has been designed to give business leaders everything they need to prove ESG claims. Using a blockchain that is tamperproof, secure, and capable of capturing granular data, companies can track their operations to a new degree. The full value-chain story is always there, written into the blockchain, ready for telling.
The Topl Blockchain can track intangible assets, like carbon credits. An element necessary to all life, carbon is also a component of carbon dioxide, one of the greenhouse gases causing climate change. To save our planet, humans must change how we approach carbon emissions. The Topl Blockchain can help us implement climate solutions in three major ways.
First, the Topl Blockchain can define low-emissions fuel footprints.The ability to fully capture how much next-generation fuel an entity uses, such as low-methane LNG or cleaner hydrogen fuel, can help quantify environmental repercussions more broadly — and facilitate easier and more precise certification. As low-emissions fuels are burned, the quantity consumed can be added to the Topl Blockchain, creating a record updated as more fuel is used. The result: data sketches a picture of full carbon footprints.
Second, carbon capture — the act of storing carbon in the earth, saving the atmosphere from further warming — can be monitored using the Topl Blockchain. The security, immutability, speed, and transparency of the Topl Blockchain allow it to fully track carbon capture.
Third, the Topl Blockchain can handle complete carbon accounting. This accounting can even include scope 3 emissions, a category of indirect emissions that, before the interoperability of blockchain, had eluded tracking. Countries, corporations, and even individual people use carbon accounting to balance all of their carbon-related activity, emissions and removals, revealing the entity’s total net carbon emissions. Financially, carbon accounting reveals how groups can more accurately offset emissions, which, when tokenized, can be traded on carbon markets. Morally, carbon accounting quantifies an entity’s help or harm to the earth.
The traditional balance sheets and ledgers that dominated before blockchain date back to many generations ago. The scope and speed of commerce today calls for a multi-dimensional solution, one made for our digital age.
The Topl Blockchain operates with complete security, speed, and granularity. It can process and store immense amounts of data very quickly (100 transactions per second with the capacity to expand beyond 1,000). Once stored, data is immutable, meaning tampering is impossible.
The Topl Blockchain’s decentralized, distributed nature and specific proof-of-stake consensus protocol create powerful data security. With a tamperproof record available 24 hours a day, the Topl Blockchain can provide optimal data verification.