Any business that wishes to increase their sustainability metrics will want to reduce its impact on the environment in meaningful ways. Considering all aspects of supply-chain management means that the company reviews every stage of the production process required to deliver its products to market, adjusting where possible to reduce carbon intensity and improve sustainability.
The Importance of Sustainability
Sustainability improvements can show real results, particularly when considered in relation to the Argonne GREET model. This model allows for improved accuracy in recording carbon impact and other sustainability factors when they are weighted and deemed more important. Such criteria as land use, social issues, water quality impacts, end-of-life factors and other variables may be entered into the equation and adjusted in weight of importance as needed.
As these factors are all entered into smart contracts managed on a platform using distributed ledger technology, all parties are in agreement, and the value grows as the agreement is ratified. The time has come for this concept, where sustainability can be measured effectively so its true value can be ascertained. Now that blockchain can provide the security and reliability of the information, the value can be shared on the market.
Once established, this value will allow energy credits, carbon credits, and other sustainability factors to carry their own value, and we see great potential in that.