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.
Providing a sustainable road map to financial institutions
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.
