Private-Public Blockchains Integrate to Deliver Automated, Auditable and Immutable ESG Reports
Global Companies Can Share Progress to Stakeholders with Granular Control Over Sensitive Information
Data Gumbo, provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain, today announced a partnership with Topl, the company that has built the public-permissionless Topl Blockchain, to offer global companies a private-public blockchain solution for Environmental, Social and Governance (ESG) reporting. The layered integration of the companies’ offerings yields public-facing, accurate and immutable reports for companies wishing to showcase evidence-based progress on ESG metrics to outside audiences and broader key stakeholders, including public analysts, investors, governments and other interested parties.
The collaborative solution from Data Gumbo and Topl gathers data from business operations and transactions, uses that data to inform calculations based on defined standards, then enables the complete review and certification of ESG metrics by auditors using GumboNet ESG. Once environmental impact is determined, a company can easily share data recorded on Topl’s public-facing blockchain, offering proof of progress on ESG metrics, and that compliance measures and upcoming SEC mandates have been met.
“As companies today face mounting pressure to report timely and accurate ESG data, including performance and progress, they need the right tools to collect, standardize and automate reporting while preserving security for sensitive data,” said Andrew Bruce, CEO and Founder, Data Gumbo. “For the first time, this partnership offers companies total control of their accurate ESG data, allowing them to publish and report metrics in whatever manner best suits them satisfying investors’, regulator agencies’ and other stakeholders’ desires.”
The partnership’s unique ESG offering is based on Data Gumbo’s proprietary private and permissioned blockchain-backed network. GumboNet ESG is a sustainability measurement solution that uses a company’s operational data to validate contracts with vendors and customers, and captures metrics for ESG standards reporting including emissions from Scope 1, 2, and 3 of the supply chain. GumboNet ESG integrates with Topl’s Blockchain-as-a-Service platform to leverage the transparency and public immutability provided by the Topl Blockchain for the publishing of selective results.
“Companies can now comprehensively collect ESG data and report to private entities and public audiences,” said Kim Raath, Founder and CEO, Topl. “This partnership combines the power of our two complementary solutions to support a new level of transparency for companies that desire to showcase their fully verifiable progress on crucial ESG metrics.”
Topl is a Texas-based, venture-backed technology company building an impact technology company that enables digital and sustainable transformation across value chains and empowers the monetization of impact verified on the Topl Blockchain. The Topl Blockchain improves transparency of sustainability tracking, enables executives to unlock reputational and financial value from impact efforts, and provides marketers the insights to create provable brand stories for responsible products. Founded in 2017, Topl has built the Topl Blockchain to track, tokenize, and transact positive impact and sustainable practices.
Topl is a diverse team, centers ESG as a core value, and draws inspiration from the UN's 17 Sustainable Development Goals. Topl sits as a member organization on the CNBC ESG council. For more information, visit Topl’s website or LinkedIn, Instagram, and Twitter.