Blockchain-powered industrial smart contract technology company Data Gumbo announced the launch of GumboNet ESG, an automated sustainability measurement solution, providing real-time verifiable environmental performance monitoring to satisfy investors, regulators, lenders and other stakeholders.
Utilizing the Sustainability Accounting Standards Board (SASB) framework with a specific smart contract to create automated ESG reports, GumboNet ESG aims to enable companies to automate sustainability reporting with accurate measurements from the field, simplifying historically inaccurate self-reporting practices, and supporting standardization in accordance with SASB Standards.
Andrew Bruce, Founder and CEO of Data Gumbo, said:
“GumboNet ESG provides the ability to execute a company’s monitoring of sustainability goals over time across their supply chain, providing trustworthy and auditable reports for the market against the credible and widely used SASB standards. It’s a new dawn for reliable and automated environmental impact measurements based on smart contracts powered and secured by blockchain.”
Data Gumbo stated that GumboNet reaches across data sources, silos and counterparty information in a supply chain, capturing and verifying real-world events and services as they unfold with a corroborated, auditable record. GumboNet ESG is available as a configurable smart contract, and taps a company’s own operational Industrial Internet of Things (IIoT) field data and that of their supply chain’s to produce an accurate picture of environmental impact.
Data Gumbo customers will have access to the GumboNet ESG as part of their GumboNet subscription to automate commercial transactions.
“Our smart contract network is extremely efficient in its ability to track, report and audit the carbon footprint across supply chains. This is based on field data and facts, not estimates, as it’s also the data that companies are invoicing with and paying bills off. GumboNet ESG empowers companies to tackle previously nonexistent, difficult or subpar measurement strategies around emissions and carbon tracking, providing the trust required for accurate, provable — not estimated — ESG reporting.”