VeChain supply chain management platform has announced a new service for companies to revisit their data management practices in terms of carbon footprint.
This new service, detailed in Thursday’s media post, combines decentralised leader technology with a business model of software-as-a-service (SaaS).
The Digital Carbon Footprint SaaS Service enables companies to record key data in the VeChain partnership network, and integrate it with internationally leading third-party insurance companies. These data can be subsequently transformed into new types of value and improve sustainability over the entire business.”
“VeChain’s Digital Carbon Footprint Service offers a comprehensive and scalable platform for any business to better calculate, track and report its carbon reduction initiatives throughout the value chain.”
Alexandre Gellert Paris, UN Climate Change Framework Convention Partner Program Officer, said recently that “blockchain can contribute to increased involvement, transparency and commitment of stakeholders and help to build confidence and to bring forward innovative solutions to combat climate change leading to enhanced climate action.”
The recent 5-year plan of Chinese President Xi Jinping — the 14th of its nature — outlined the aggressive effort to move the biggest economy of the world onto a low carbon trajectory and to achieve carbon neutrality before 2060 by achieving peak emission production before 2030.
Over the last year, China has gone from trading to Bitcoin mining, which seeks to curb market influence on its population, as a major player in the cryptocurrency industry, implementing a range of regulative policies.
After the Bitcoin (BTC) mining attack, Guizhou province was able to use the 50 terawatt-hours of electricity in colossal waters for initiatives that were climate-focused, for example, by 2023 to install 38,000 electric charging points for vehicles.
Also, Beijing follows the same path, aimed at 60% of the country’s fuel-fired vehicles by 2030. This goes beyond the US 50% target on the basis of the projections.