As part of Davos 2023, we’re excited to announce that CorpStage is creating its new verifiable and auditable ESG reporting platform on the Hedera Guardian - providing companies with a trusted and reliable way to track and report on sustainability and social responsibility efforts.
ESG reporting involves disclosing information about a company's environmental, social, and governance practices. This includes things like a company's carbon emissions, labor practices, and diversity & inclusion initiatives. ESG reporting is important because it allows companies to demonstrate their commitment to sustainability and social responsibility, and it helps investors make informed decisions based on reliable and accurate data.
As more and more companies aim to demonstrate their commitment, the risk of "greenwashing" - or the act of making misleading claims about a company's environmental practices - becomes a concern. To combat this, Corpstage provides a secure, transparent, and verifiable way for companies to track and report on their environmental, social, and governance (ESG) efforts, ensuring that the information being disclosed is accurate and reliable.
The CorpStage platform is a complete sustainability ecosystem, providing corporates with a sophisticated project management tool that adheres to proper governance and approval processes whilst enabling the generation of carbon offsets and social impact credits. On completion of ESG milestones, corporates earn smart certificates that they can publish to stakeholders - enabling greater stakeholder engagement and sustainable communications.
“Our goal is to make sustainability mainstream by providing a 360-degree ecosystem of sustainability for corporates, individuals, and investors.” Said Dr Nisha Kohli, CEO, and Founder of Corpstage. “We are enabling corporates to create stakeholder values by adopting ESG practices and creating awareness and sharing more in-depth knowledge.”
All certificates and carbon offsets on the CorpStage platform will be generated using the Hedera Guardian, facilitating trustworthy stakeholder reporting based on complete transparency. This will greatly benefit existing Hedera ecosystem applications and those currently outside of it by giving them the ability to securely and frictionlessly report their ESG activity.
“We chose the Hedera network as an energy-efficient, policy-driven ESG ecosystem with a predictably low fee structure,” said Dr Nisha Kohli. "Working with The HBAR Foundation is really going to accelerate our team and get these tools out into the ecosystem.”
“We’re excited for Corpstage to join the Hedera regenerative finance community.” said Wes Geisenberger, VP, ESG & Sustainability, “Their focus on ESG reporting and bringing together carbon emissions and carbon offsets for corporate disclosures is a key step in making ESG reporting credible.”
About The HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.
The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.
The Corpstage team, with the support of the HBAR Foundation, will continue to focus on providing transparent ESG data and insights to breakthrough practices of greenwashing, increase the trust of investors and promote sustainable practices overall. For more information, visit https://www.corpstage.com