Brianna White

Staff member
Jul 30, 2019
We often hear about applications of technology bound to alter the status quo. Blockchain, notably, has had its fair share in the limelight with much focus on cryptocurrency, tokens and mining. But this is misplaced idolatry, and while several crypto-enthusiasts have made bank (pun intended) on decentralized electronic currencies, the real near-term value of blockchain is in tethering the technology to the mitigation of climate change.
How does one get from the current hopped-up non-fungible token craze to a net-zero world in less than 30 years or less? It may start with the Biden Administration. With steep targets to slash greenhouse gas (GHG) to reach net-zero emissions economywide by no later than 2050, global businesses and industrial companies are deeply amid a flurry of churning nerves and strategies aimed at tackling the crisis at hand. Megacompanies — including prominent tech companies — are hot-to-trot to tout progress with emission reduction programs, but there are numerous obstacles. One of the largest issues is that of unreliable or inaccurate data. Another significant obstacle: environmental, social and governance (ESG) disclosure requirements from the Securities and Exchange Commission (SEC), which is expected this fall and is already making ripples.
The precipitous rise of ESG has reinvigorated participation in carbon offsetting programs as a steppingstone to make headway on sustainability targets. With this renewal, near-term applications of blockchain can provide immutable veracity (a much-needed and previously missing component) to offsetting practices — and in doing so, can aid in achieving progress on the path to net-zero.
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