President & CEO, TerraHub
Environmental, social, and governance (ESG) scorecard performance for corporations continues its rise as the new metric for investors and the public alike. Assets with strong ESG scores are the fastest-growing investment opportunities across the globe as ESG performance has become one of the best indicators for future growth.
So how are companies supposed to link their corporate financial performance to their ESG performance? It starts with collecting irrefutable data, having the ability to process large data sets and driving smart decisions, followed by giving shareholders and investors the required level of transparency into those reports.
AI-enabled systems running on immutable and encrypted data sets lead to safe sharing of private business data and homomorphic encryption for performance analysis across multiple enterprises, resulting in unbiased reporting as the data has never been altered.
AI is the ability of a computer to process a vast amount of information for you, make decisions, and take (and/or advise you to take) appropriate action.Dr. Peter Diamandis
TerraHub recognized an opportunity in oil and gas and created a platform to facilitate the vast and distributed business model of this industry. This platform — Sync — provides the ability for technology to promote data integrity from machine-to-machine communication.
Working on encrypted data, without decrypting the data itself can show how a company scores across all ESG standards, compares to their peers and benchmarks year-over-year growth. In addition to artificial intelligence, private blockchain technology aggregates and validates core business transactions to unlock the benefits of industry-wide ESG collaboration. Together, companies operating in a specific geographical area can gain greater alignment in working with vendors that meet their environment, health, safety, and social values. Together they can publish climate change mitigation and adaptation metrics as well as greenhouse gas emissions that can be independently audited.
Complex industries, such as energy, construction, manufacturing, and others, have an opportunity to showcase their ESG performance with real-time metrics across all ESG frameworks. The cost and amount of effort that comes with this type of reporting, is significantly simplified through machine-to-machine communication, process automation, intelligent contracts, and predictive reports powered by artificial intelligence.