SBI R3 Japan Proves Corda Can Help Businesses ‘Go Green’
Environmental, social and governance (ESG) global investment continues to grow. Companies are now expected to take an even more ambitious approach when disclosing information on their climate change measures and reducing greenhouse gas (GHG) emissions in their business activities.
SBI R3 Japan, R3 and SBI Holdings’ joint venture to advocate for enterprise blockchain and accelerate Corda adoption in Japan, is proving a great success in supporting ESG initiatives across the region. Regional titan, Nomura, has realised the potential of Corda as part of this pursuit towards a more sustainable future. We are so pleased to announce R3 SBI Japan’s partnership with Nomura Research Institute Ltd (NRI), in the development of a Proof-of-Concept solution to transform the way businesses pursue their ESG goals.
SBI R3 Japan has joined NRI in the development of this PoC, alongside other influential solution providers part of the Green x Digital consortium, which is run by Japan Electronics and Information Technology Industries Association (JEITA). The Green x Digital Consortium seeks to embrace digital technologies and solutions to achieve carbon neutrality across societies and aims to make rules and find ways to collect and share CO2 data over the supply chain, following the Pathfinder Network of PACT – one of the world’s main initiatives of supply chain carbon transparency.
To help companies optimize their processes when disclosing GHG emissions in accordance with the global GHG protocol, NRI is developing a solution called NRI-CTS on multiple blockchain platforms, including R3’s Corda. The solution enables inter-enterprise CO2 data exchange to visualize CO2 emissions, due to its level of technical attributes that are capable of compatibly substituting data linkage functional units for different technologies.
Corda played a role in the initial experiment, which was conducted over two groups: a version installed on an Oracle blockchain table; and a version installed on Corda. In the experiment, functional data linkage was achieved in both groups, thus confirming the design’s technological flexibility, as well as Corda’s own interoperability and ability to prove another successful use-case for distributed ledger technology (DLT).
The success of the experiment means that, going forward, we can expect to see enterprises select DLT-based solutions to move forward with visualizing their emissions in their pursuit of ESG goals. This will boost global efforts towards building a more sustainable future.