The energy crisis may have only just begun. Whether we world does enough to to become environmentally friendly, you can of course ask, and in the long run that could be the real crisis. One of the largest accountancy and consulting firms in the world is developing an application for Ethereum (ETH) that will help you measure your carbon footprint.
Tracking CO2 emissions via Ethereum
Ernst & Young (aka EY) declares to CoinDesk that the accountancy firm is working on a system that allows companies to measure their carbon footprint. Large companies, in particular, increasingly have to comply with certain environmental requirements, such as the conditions that can be found in the ESG Policy.
Companies often create applications on enterprise blockchains for this, but EY emphasizes that the benefit of such a service is quite limited. The accounting firm instead uses aware Ethereum, which is fully public and transparent. Businesses find it according to the consultancy firm fine if their carbon footprint is placed on a public blockchain.
For many large companies, it is a plus to be open about exactly what impact they have on the planet. A closed blockchain only stands in the way. “Companies want to show that they are both skilfully tracking and compensating for their emissions,” explains EY CEO Paul Brody.
As an example, he mentions that a telephone has a large number of different parts, such as a display, a battery and a processor. They all produce a certain amount of greenhouse gas during production. And when the semi-finished products are ready, they also have to be shipped and assembled, which also has an impact on the environment.
If you can keep track of exactly how much each step contributes to environmental pollution, you can better gauge what you can do about it, and blockchain technology is ideally suited for that.
Financial Reward
According to governments, this is also urgently needed. The steps that governments are taking towards more environmental friendliness are increasing. so huhMany European countries not only have more programs to help companies switch to renewable energy sources.
Also mustand polluting companies pay special commissions to keep emitting greenhouse gases. Companies that contribute to an environmentally friendly future actually receive financial rewards. So a double effect. A system that can clearly keep track of your emissions and where there are opportunities, can be very useful here.
