KPMG Airs Blockchain Solution to Help Corporate Organizations Offset Carbon Emissions

Please note, this is a summary to the article originally published in Coindesk.

  • Big Four professional services firm KPMG announced a novel patent-pending blockchain solution intended to help organizations measure, report and offset their greenhouse gas emissions. According to a press release, the firm describes its Climate Accounting Infrastructure (CAI) as a transparent platform that offers companies a means to trace their emissions.
  • The CAI is intended to complement an organization’s existing systems including IoT sensors with outside data sources to establish a permanent record of emissions on a blockchain.
  • The solution comes at a time when investors are broadening their scope beyond “financial factors” to include social and corporate governance practices, KPMG said in the announcement, which is expected to be “critical” in order to meet stakeholder expectations.
  • To bring its solution to market, KPMG will work with businesses such as blockchain data visualization company Context Labs, software company Prescriptive Data and ConsenSys-backed Allinfra, a blockchain firm already working on carbon offsetting infrastructure.