Leader in ESG Data Measurement Space to Support Sustainability Frameworks Technology Consortium Creating Collaborative Open Standards for Footprint-Related Data
Today, Data Gumbo, provider of GumboNet™ – the massively interconnected industrial smart contract network secured and powered by blockchain – announced that it has joined The Open Group Open Footprint™ Forum, the vendor-neutral technology consortium. It will work alongside Forum Members, such as Shell, Microsoft Corporation, IBM, Amazon Web Services, Deloitte Consulting, LLP, among others, to create open standards for environmental footprint-related data, including emissions and consumptions across water, land and energy for industrial supply chains.
As the provider of GumboNet™ ESG – the automated and transparent sustainability measurement solution that ties an organization’s operational data to ESG standards reporting – Data Gumbo is well positioned to apply its knowledge in commercial smart contracts to auditable, timely reporting of environmental performance data. Already utilizing the Sustainability Accounting Standards Board (SASB) standards, the company intends to expand integrations with the Open Footprint Forum standards, once finalized, as well as building out capabilities to support additional framework bodies.
“As a leader in the ESG data measurement space, joining the Open Footprint Forum is a logical step toward collaborating with other major players to build open standards that tap the power of data to reduce carbon footprints around the world,” said Andrew Bruce, CEO and Founder, Data Gumbo. “We look forward to working as a Member of the Forum to co-develop standards and methods and provide our data expertise to achieve progress in the ESG realm, ultimately helping organizations manage their carbon footprints.”
Data Gumbo’s proficiency within the space stems from its automated ESG measurement solution, GumboNet ESG. The need for companies to reduce their carbon footprint across their supply chain and satisfy key stakeholders is forcing them to examine the quality, quantity and timeliness of their data. Yet without clear metrics or standards to measure against, the reporting progress can be convoluted, resource intensive and lacking in repeatability. GumboNet ESG uses the same footprint-related data to automate sustainability measurements for invoicing and payments in blockchain-powered and secured smart contracts. This functionality can feed into framework guidelines, including the outputs of the Open Footprint Forum.
“We warmly welcome Data Gumbo to the Open Footprint Forum,” said Steve Nunn, President and CEO, The Open Group. “With its deep knowledge of the ESG measurement landscape, we’re excited for the contribution it will bring to the Forum as our members work together to create a reference architecture and open source solution for overseeing footprint-related data across industries. The expertise Data Gumbo will provide will also be crucial for aligning with existing sustainability and reporting bodies to deliver better standards adoption across the board.”
About Data Gumbo
Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — a massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Data Gumbo also provides GumboNet™ ESG, the automated and accurate sustainability measurement solution that ties a company’s operational data to environmental, social and governance (ESG) standards reporting for industrial supply chains.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. With offices in Stavanger, Norway, and London, UK, the growing company was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and named to CB Insights Blockchain 50, among other awards last year. For more information, visit www.datagumbo.com or follow on LinkedIn, Twitter and Facebook.
About The Open Group
The Open Group is a global consortium that enables the achievement of business objectives through technology standards. Our diverse membership of more than 800 organizations includes customers, systems and solutions suppliers, tool vendors, integrators, academic, and consultants across multiple industries. Learn more here.