Data quality and accuracy is the top priority for ESG reporting and compliance. Bad data leads decisions that yield dire consequences.
One of the many technologies that can be leveraged to ensure data quality remains consistently high is blockchain, an immutable and decentralised ledger technology.
Data transparency drives data quality. Without transparency, data is not able to be verified and checked against relevant data sources. With proper data transparency in place, we are able to trace back and ensure the data we are working with is in its optimal state.
Due to the immutability design of blockchain, and being append-only, there is high resistance to any tampering that would otherwise traditionally be very easily executed in a centralised database. For extra security, a blockchain can scale to be decentralised, further strengthening its tamper-resistant properties.
The possibility of decentralisation ensures that data can be verified as multiple parties algorithmically come to a consensus. This ensures that the accountability of having quality data can be fully traceable, and verifiable on the the blockchain.
As ESG is a broad term encapsulating many aspects of an organisation, there is no one-size-fits-all approach to formulating the right strategy.
The first step would be to get in touch with us and book an initial consult so that the Ocean Blocks ESG team can get to know your organisation in order to identify and better understand where we are able to add value.
Ocean Blocks typically work with and consult to mid-tier businesses both in Australia and abroad. Occasionally we do specific pieces of work for bigger firms or government organisations that require our specialist expertise in designated areas.
Ocean Blocks works with a wide range of organisations in different industry sectors. We are sector agnostic and have clients from a variety of industries.
The ESG side of the Ocean Blocks business operates much like a consultancy firm. We typically consult to businesses and work to create a bespoke strategy to tailor for each organisations’ unique needs and requirements.
Due to the bespoke nature of how we work with our clients, our fee structure is only determined after understanding the particular organisation’s requirements.