Cofounder and Chief Product Officer ImpactEdge Inc.
Enterprises face major challenges related to transparent disclosure and sustainability performance to meet mandates and stakeholder demands. However, the elephant in the room is the indirect value chain activities, which are neither owned nor controlled by a company, often complicated by millions of parts and thousands of suppliers spread out globally. Tracking and tracing 80-90% of operational and sustainability data that lies within its supply chains/value chain but beyond the enterprise boundaries is a challenge. This often leaves investors in the dark about a company’s true exposure to climate and other sustainability risks or missed opportunities. Unwittingly or otherwise, this results in Greenwashing or misleading claims by enterprises which leads to a lack of trust among stakeholders. This also leaves society with incomplete, under-counted, unreliable measures to make optimal choices.
One approach is to leverage blockchain technology to bring about a renaissance in business ecosystems by helping enterprises ‘Operationalize Trust’ within their supply chains. This solution helps enterprises operationalize trust in their supply chain GHG and other ESG data across their value chains through a multi-party, multi-cloud, data sharing and collaboration platform that enables significantly better data traceability, verifiability, integrity, and automation, with proofs from the source of truth, recorded immutably on blockchain and provides trustworthy GHG and other sustainability data, an essential element for sustainability excellence. By combining Artificial Intelligence (AI) with technologies like Internet of Things (IoT) and Big Data Analytics, we can leverage AI to analyze, predict, and prescribe to optimize decision making. When combined with subject matter expertise, these insights can create a closed loop from data collection to insights, actions, and feedback. This process continuously refines the AI, contributing to further improvements. AI is the ‘Avatar Incarnate’ to protect our planet, people, and progeny and do so profitably!
