Published by Todd Bush on May 12, 2023
LONDON, May 10, 2023 /PRNewswire/ -- The EY organization today announced the beta availability and use of EY OpsChain ESG on the EY Blockchain SaaS platform. Developed on the Ethereum blockchain, the new solution will provide a single, verifiable view of CO2 emissions (CO2e) to address the needs of enterprises that struggle to accurately measure and track their carbon footprint. It will also provide consumers, business partners and regulators with the transparency they demand via a trusted platform for emissions and carbon credit traceability within an ecosystem through the use of tokenization.
By tokenizing products' emissions, EY OpsChain ESG provides enterprises with a clear understanding of their CO2e positions, which helps drive better informed decisions on their ESG journey. Built to the standards of InterWork Alliance for Carbon Emissions Tokens, EY OpsChain ESG provides immutable reporting on an enterprise's current CO2e that is independently verifiable through the integration of key emissions data validators. The solution also enables enterprises to demonstrate authenticity of the carbon offsets used to reduce their environmental impact as they decarbonize.
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."
Further information about beta access to the EY OpsChain ESG solution is available at blockchain.ey.com.
EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data, and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.
Stephanie Kruczek
EY Global Media Relations
(512) 426-2281
[email protected]
SOURCE EY
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🛫 XCF Global Outlines Plan to Build Multiple SAF Production Facilities and Invest Nearly $1 Billion in Renewable Fuel Production Capacity by 2028 ⚓ Backgrounder: Government of Ca...
Inside This Issue ✈️ SAF Isn’t a Buzzword Anymore - It’s 2025’s Breakout Fuel 🏅 Global Energy Prize Awarded to Three Scientists From China, USA and Russia ⚡ ACES Delta I Hydrogen Production and St...
Inside This Issue 🛢️ Exxon's Gas Strike, EPA Smackdown, and Carbon Curveball 🏭 MHI Awarded Contract for Basic Design of Japan's Largest CO₂ Capture Plant at Hokkaido Electric Power's Tomato-Atsuma...
NewHydrogen Announces Its First Production of Clean Hydrogen
The Company achieves a major milestone and value inflection point by demonstrating real-time hydrogen production using its novel ThermoLoop™ heat-based water-splitting system SANTA CLARITA, Calif....
CF Industries Holdings, Inc. (NYSE: CF) today announced the start-up of the carbon dioxide (CO2) dehydration and compression facility at its Donaldsonville Complex in Louisiana. The facility will e...
Frontier Commits $1.75M to Advance Ocean Alkalinity and Mineralization Carbon Removal Startups
$1.75M in prepurchases made by Frontier on behalf of Stripe, Shopify, and Google to accelerate three early-stage carbon removal startups. Pioneering ocean alkalinity enhancement and surficial mine...
Climate Solutions Company Spiritus to Add Jobs, Expand Footprint in New Mexico
Spiritus Technologies PBC, a company engaged in sustainable carbon removal, has been awarded state LEDA assistance to add jobs and expand its footprint in New Mexico, through a program administered...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.