Creating sustainability initiatives within a corporate structure and adhering to the program may not be easy, but it’s worthwhile when one considers the benefits to the company and its business. Those benefits are realized exponentially when one creates a reporting structure that is unquestionable and beyond reproach, and that’s just what Verity Tracking does.
Using a smart contract system on a distributed ledger technology platform, Verity uses blockchain to track and record all sustainability efforts as set forth in the Argonne GREET model. This model uses a life cycle inventory (LCI) to create a full picture of carbon emissions tied to all aspects of a business, and then illuminates a pathway to show where savings can be created. The result is a unique model for every business, where the carbon savings can be shown and compared with past performance and future expectations. The results can then be considered in light of sustainable value.
The Value of Sustainability Is Growing
Working with companies that demonstrate sustainability can yield substantial benefits, and tax and other financial advantages are at the top of the list. Other benefits are improved employee morale, better relations with investors and stakeholders, and more, but all of it will hinge on effective reporting and certification.
Renewable energy is one factor where the benefits are real. Instead of seeking to buy carbon credits to offset a company’s carbon intensity, the management team could be offering up carbon credits created through renewable energy use. That’s a substantial swing.