WEB3 for ESG and Climate Change Management

To make better progress on global warming, regulators need to find ways to reward positive and proactive behaviors instead of leveraging fines after it is too late. We will not solve the global warming problem by fining emitters until they behave. We need verifiable and science-based emissions data to advance consistent, transparent, intelligible, comparable, science-based, and accurate disclosure of climate-related risk. While the government actively seeks to combat climate change through financial regulation, Web3 technology affords a better alternative for the corporate world.

What is Web3? Web3 is a decentralized internet backed by blockchain technology. Blockchain technology can help with the climate change crisis by assisting companies in quantifying better, managing, and reducing their emissions while lowering their operating costs at the same time. Social sharing elements may also help companies broadcast their success in combatting climate change with verifiable data rather than with future-looking statements.

Instead of letting scraped web data (collected by someone else) determine their ESG risk ranking, companies can switch to Web3 models that would bring them multiple benefits: 1) data ownership, 2) real-time emissions measurements, 3) credibility, 4) the possibility to monetize their emission data, and 5) ultimately altogether avoid reporting by sharing emission chains.

No industry stands to benefit more from Web3 than our planet itself. Web3 has the potential to give us…