Last week Data Gumbo launched GumboNet™ ESG, our fully automated, timely and accurate ESG measurement solution for industry. As a significant milestone in our company’s journey, we are excited to make this solution available and share a bit more about its ability to provide a roadmap to companies, big and small, looking to automate and execute against sustainability goals.
Industries, including energy, are setting big goals and making pledges to monitor and verify environmental impact like greenhouse gas (GHG) emissions. But quality data is one of the biggest ESG issues. That’s where we come in! As a neutral third-party, our reach across data sources, silos and counterparty information enables our smart contract network, GumboNet, to capture and verify real-world events and services as they unfold. This makes GumboNet an extremely efficient tool in its ability to track, report and audit a carbon footprint across a customer’s supply chain.
Essentially, we tap a company's own field data and their vendors’, then route the sustainability measurements to a report based on the Sustainability Accounting Standards Board (SASB) framework. A company can then provide this report to interested third-parties: government required reporting such as the EPA or states; the SEC and public financial disclosures; investors, lenders and board of directors; and even external stakeholders monitoring a company’s environmental progress.
The same data used in GumboNet’s smart contracts to automate operations and wring inefficiencies out of commercial relationships is the same data — 95% overlap — required for accurate, provable ESG sustainability reporting. Common data streams that GumboNet ESG can measure include biodiversity impact, operational impact, greenhouse gas emissions (GHG), and workforce health and safety among additional metrics. These are based on accurate data and facts, not estimates, as it’s also the data being used to automate invoicing and payments.
With data available on a real-time basis, we are greatly changing the speed at which accurate environmental insights will be available, setting a new gold standard for transparency, trust and timeliness, ushering in the age of automation in ESG reporting.
GumboNet ESG is included as part of the standard functionality of a GumboNet subscription. To learn more, please contact firstname.lastname@example.org.