ALTERNATIVE APPLICATIONS OF BLOCKCHAIN TECHNOLOGY FOR ESG INITIATIVES :
Enhanced Carbon Emission Tracking and Trading : Blockchain can improve the transparency and efficiency of carbon credit markets . By recording carbon credits on a public blockchain , transactions become transparent and are settled automatically , reducing fraud and duplication of credits . This ensures that emissions reductions are accurately tracked and reported , helping to meet climate goals .
Facilitated Clean Energy Trading : Blockchain technology can support peer-to-peer ( P2P ) trading of renewable energy . Consumers can buy , sell or exchange renewable energy using tokens or digital assets , which promotes the use of clean energy sources and reduces reliance on fossil fuels .
Support for Sustainable Supply Chains : Blockchain ’ s ability to provide transparency and traceability can enhance supply chain sustainability . By integrating all members into a single secure network , it helps ensure that products are sourced , manufactured and distributed in an environmentally friendly manner , reducing waste and improving resource efficiency .
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