Accounting giant KPMG has just launched a blockchain solution aimed at helping organizations measure, report and offset their greenhouse gas emissions, according to the official press release shared by the company.
The tool, known as Climate Accounting Infrastructure (CAI), uses cryptos' underlying tech to securely store environmental data in a financial system as part of organizations' climate risk assessments and asset valuations.
The objective of this solution is to help companies meet environmental, social and corporate governance targets.
In particular, the CAI collects data it receives through IoT sensors as well as from external data sources in order to verifiably monitor emissions and offsets and subsequently record them in a blockchain.
KPMG has collaborated with data provenance and tracking providers Context Labs and Prescriptive Data as well as blockchain company Allinfra in the development of the product.
KPMG ensures reports on the data will be transparently and reliably disclosed "to meet stakeholder expectations and to comply with emerging regulations."
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