Concordium and Arivu partner to combat greenwashing with blockchain verification

16/03/2023 News

Concordium announces it is partnering with Arivu, a Blockchain-as-a-Service (BaaS) provider that specializes in ESG (Environmental, Social, and Governance) reporting verification. The partnership aims to tackle the growing issue of greenwashing by providing companies with verified ESG data, evidence, and assurance.

Arivu's platform leverages blockchain verification to reduce costs and minimize effort when it comes to audit and compliance, 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 calling out a reported 42% of "green" claims for being "exaggerated, false, or deceptive," greenwashing is a dangerous practice that negatively impacts both a company's reputation and bottom line. The partnership with Arivu is a testament to Concordium's commitment to fighting climate change through the use of groundbreaking blockchain-based solutions, as was the case with previous collaborations with ClimaFi,  Energinet and Carbotanix. 

Through its EasyWriter product, Arivu provides off-chain companies and projects with an easy-to-use interface for different use-case requirements. The platform supports both small and large payloads, with small payload data containing the hash of the binary data, blockchain name, and transaction ID, and large payloads being written to file storage public blockchains.

Arivu is on a mission to provide companies 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, Arivu's EasyWriter platform can verify ESG data and provide immutable proof of its accuracy. 

"We are delighted to partner with Concordium to help companies solve the challenge of investor and public trust in their sustainability claims. Our combined capabilities are a game-changer for corporates."  Matthew Nelson, CEO 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 Kaaber, Head of Commercial at Concordium. 

Related news & insights

25/06/2024 News

CNP Assurances launches Climate Risk Index for French insurance sector

CNP Assurances, in collaboration with the DIALog Chair, has released a green paper titled "Climate Risk and Impact on Insurance."...

24/06/2024 Interview

Further Insights: The future of food – Addressing overconsumption and health

The way we produce food and the way we eat poses serious problems in terms of sustainable development and public...

24/06/2024 News

TBC Bank Uzbekistan secures $10 million loan from responsAbility Investments AG

The funds will support TBC Uzbekistan’s microlending efforts, promoting financial inclusion in Central Asia’s most populous country.

21/06/2024 Interview

NewTech Friday: Bluezone Insurance – Improving the lives of people with chronic health conditions

Karan Mehta, Founder & CEO at Bluezone Insurance, tells Qorus' Boris Plantier about his company, a specialist life insurance provider...

20/06/2024 Interview

SWINZ: Award-winning insurtech giving insurance 'back to the people'

Didier Muréna is the co-founder of SWINZ. He won silver at the Qorus Innovation in Insurance Awards 2024 in the...

19/06/2024 Study

The Qorus Innovation in Insurance Awards trends 2024

Whether harnessing the latest technological advancements like generative AI or the metaverse, or addressing customer or employee needs directly, the...

19/06/2024 News

Crédit Agricole Assurances introduces new eco-friendly home insurance

Crédit Agricole Assurances is expanding its offerings with a new home insurance policy that is more accessible, customizable, and environmentally...

SME Banking
16/06/2024 News

Trustly launches AI-powered recurring payments to boost European subscription economy

Trustly, a global leader in open banking payments, has unveiled its AI-powered recurring payments solution, set to revolutionize how merchants...