Being a good corporate citizen isn’t just important - it’s fundamental. On top of that, regulators and investors increasingly require strong ESG performance.
ESG stands for Environmental, Social, Governance. Reporting and approving ESG metrics in a global supply chain is an expensive, difficult and redundant process.
Integra has created a platform that can bring significant efficiency and enhanced trust to the process in a way that benefits entire industries. Also it’s blockchain based and open source. Upon completing the process, the vendor receives a blockchain authenticated certificate of compliance that can be used for strengthening their ESG performance.
Each document created in the process is tokenized: proof of its existence is written on the Integra Ledger blockchain. No private information is stored by Integra. This creates a highly efficient and auditable ecosystem to support industry-wide ESG compliance.
Here’s how it works. First, visit www.smartesg.org
Here, you’ll see the three main elements of the process. Step one:
The company creates what we call a Smart ESG questionnaire. You can add any number of fields depending on your requirements. Once complete, click here to download.
If you open the document, you won’t see any questions as they are embedded in the metadata. A company then sends this document to a vendor. All they have to do is click this link that brings the process to step 2.
The vendor drags the document from step 1 onto the page and the questions appear. This is because the questions are extracted from the metadata of the document itself, as no information is stored by Integra. This is why it’s smart. Upon completion of the questionnaire, a new document is generated with the recorded response, also embedded in the metadata. Because ESG vendor compliance has significant liability and reputational consequences, using blockchain to create an audit trail for vendor responses is invaluable.
Now for step 3. The company receives the completed SmartESG questionnaire from the vendor, and after approval, an attestation is generated.
The vendor can now provide this as proof of ESG compliance to future companies. Attestations are the building blocks of a strong vendors reputation. And with additional attestations in hand, the vendor can represent a lower risk to future companies, relying on broader community approval of their ESG performance.
The SmartESG Platform demonstrates some of the most powerful attributes of blockchain technology to harness digital trust to significantly lower costs and risks for an entire industry.
One last thing - In the upper right is a QR code. If we click on this, it opens a new website - VerifiedByIntegra - which as you can see, confirms that the document was successfully tokenized on Integra.