Combatting Greenwashing: HBAR Foundation supports CorpStage ESG and its verifiable ESG Tracking System

The HBAR Foundation, an incubator fund established by Hedera, has announced sponsorship of CorpStage to create a new verifiable and auditable Environmental, Social, and Governance (ESG) reporting platform using Hedera Guardian. The platform aims to provide companies with a trusted and reliable way to track and report on their sustainability and social responsibility efforts.

As companies are becoming increasingly focused on demonstrating their commitment to sustainability, the risk of “greenwashing” becomes a concern. Greenwashing refers to the practice of exaggerating or misstating the environmental benefits of a product or service in order to appeal to environmentally conscious consumers. CorpStage aims to combat this by providing a secure, transparent, and verifiable way for companies to track and report their ESG efforts.

The CorpStage platform is a complete sustainability ecosystem, enabling companies to use a sophisticated project management tool that adheres to proper governance and approval processes. It also allows for the generation of carbon offsets and social impact credits. Companies can manage ESG milestones and receive verifiable smart certificates for meeting them. These smart certificates and offsets will be generated using Hedera Guardian, facilitating trustworthy stakeholder reporting based on complete transparency.

Dr Nisha Kohli, CEO, and Founder of Corpstage said that the company decided to use Hedera due to its energy efficiency and “predictably low fee structure”.

See Also

Turkish Parliament to Review Crypto Bill

For more information, visit https://www.corpstage.com.

Read more about Hedera:

• HBAR Foundation Funds Sustainable Projects Building on Hedera
• Hedera Hashgraph Most Energy Efficient DLT According to UCL Pre-Print
• What is Hedera Hashgraph and How Does it Work?