Concordium and Arivu collaborate to combat Greenwashing with Blockchain Verification
ZUG, Switzerland, March 16, 2023 /PRNewswire/ — Concordium announces its partnership with Arivu, a Blockchain-as-a-Service (BaaS) provider specializing in Environmental, Social and Governance (ESG) reporting. The partnership aims to tackle the growing problem of greenwashing by providing companies with verified ESG data, evidence and assurance.
Arivu’s platform leverages blockchain verification to reduce costs and minimize audit and compliance efforts, representing a more cost-effective and efficient way for companies to report ESG data and do their part in the fight against climate change.
With the latest European research reporting that 42% of ‘green’ claims are ‘exaggerated, false or misleading’, greenwashing is a dangerous practice that negatively affects both a company’s reputation and bottom line. The collaboration with Arivu is proof of Concordium’s commitment to fighting climate change through the use of cutting-edge blockchain-based solutions, as was the case with previous collaborations with ClimaFi, Energinet and Carbotanix.
Through its EasyWriter product, Arivu provides companies and projects outside the chain with a user-friendly interface for various use cases. The platform supports both small and large payloads, with small payload data containing the hash of binary data, blockchain name and transaction ID, and large payloads being written to file storage public blockchains.
Arivu is on a mission to provide businesses with a trusted way to own, prove and share their sustainability transition by making it easier to identify and manage risk exposure across supply chains. With Concordium’s enterprise-grade blockchain technology, Arivus’ EasyWriter platform can verify ESG data and provide immutable proof of its accuracy.
“We are excited to partner with Concordium to help companies address the investor and public trust challenge of their sustainability requirements. Our combined capabilities are a game-changer for businesses.” Matthew NelsonCEO of Arivu.
“Together, Concordium and Arivu are working towards a more transparent and sustainable future, where ESG reporting is verified and accurate, and greenwashing is a thing of the past.” says Torben Kaaberhead of commercial at Concordium.