This paper explores how blockchain technology and blockchain-based design models and processes can be used to support and rectify current issues in ESG accounting, reporting, and compliance.
The objective of the paper is to investigate applicability and propose application of blockchain technology to solve issues regarding documentation stemming from regulatory requirements with respect to ESG; issues which become increasingly relevant for businesses to solve.
Three take aways:
- Taking control of the supply chain is crucial to comply with ESG requirements.
- The complexity of supply chains and need for detailed, consistent and reliable data for regulatory compliance require legally solid digital solutions to be valid.
- Implementing valid digital solutions, e.g. blockchain technology, to support ESG reporting require utilization of legal knowledge in both development, implementation and operation of the solution.
Co-authors: Henrik Knak, director at Deloitte Consulting, Bilal Bhatti, founder of PaperTale, Guillaume Ruffloch and Kasper Blixt Simonsen supply chain consultants in Deloitte, and Jonas Sveistrup Søgaard and Rasmus Winther Mølbjerg