Last week, Michael Matthews, SVP of Data Gumbo, had the unique opportunity to participate in a webinar hosted by The Construction Industry Institute (CII), a nonprofit consortium of more than 130 owner, engineering-contractor and private/public supplier firms housed at The University of Texas at Austin.
In linear progression, Mary Savalle, Field Demonstration Program Manager of Radical Combustion Technologies, and Michael independently explored two topics relevant to the upstream, midstream and mining sector including the reliability impact of investment in natural gas engines as well as Environmental, Social, and Governance (ESG) challenges and opportunities within the industry — with Mary presenting on the former and Michael on the latter.
Michael’s presentation included an introduction to what exactly ESG is: the E refers to how a company performs as a steward of nature and the environment; the S how a company manages relationships with employees, suppliers, customers and communities; and the G for how a company’s leadership and board composition aligns with stakeholders and stakeholder rights, in addition to exploring the evolving ecosystem of forthcoming ESG reporting regulations and standards bodies. As rules move from voluntary to mandated, companies must figure out how to capture and report ESG-related data/information.
With numerous reference standards consolidating and companies pledging emission-reduction targets, markets are certain to seek out common factors in reporting with an emphasis on transparency as defined by clear, accurate, consistent and verifiable data that can form a baseline, set a roadmap, and prove progress.
One way to execute reliable and automated ESG reporting is to use smart contracts, and that’s exactly what Data Gumbo does. To understand exactly how smart contracts can directly address key ESG issues in an auditable and transparent way, sign up for our on demand webinar here.
