Blockchain-Enabled ESG Management: Enhancing Data Authenticity and Transparency

Title

Blockchain-Enabled ESG Management: Enhancing Data Authenticity and Transparency

Creator

Balaji, K.; Rahman, Haseeb Ur

Description

Blockchain has a virtual path that is immutable and allows for secure and transparent business transactions and reduces the need for mediators. This chapter outlines the use of blockchain in the management of ESG to boost information integrity and transparency. The purpose is to know how blockchain can potentially contribute to proving some ESG metrics, enhancing the compliance to regulations, and over legalize the reporting on sustainable development. It has been employed by doing a critical analysis of the existing applications of blockchain for ESG reporting in the current fiscal year and studies with cases including expert talk for pronouncing the impact on the data accuracy among the various sectors. According to the results, the ability of blockchains distributed ledger to store data concerning ESG and ensure transparency is resistant to changes. However, problems like compatibility and scalability still have not disappeared and that is why tactical solutions remain relevant. From this study, it can be inferred that there is a potential of blockchain to greatly enhance stakeholders confidence through transparent and exemplary ESG process, which is then likely to enhance organizations ethical behaviour. Besides, it directly focuses on the capacity of blockchain to affect new sustainable company processes and rules and regulations. In conclusion, the use of blockchain technology brings hope in the shift of sustainability governance due to its provision of authenticity and accountability of data, hence promoting better and ethical corporation conduct. It provides valuable information to the stakeholders who want to rely on blockchain to enhance sustainable performance. 2025 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

Source

Green Horizons: Role of AI in Sustainable Finance;pp.105-126

Date

01-01-2025

Publisher

Springer Science+Business Media

Subject

Blockchain technology; Data authenticity; ESG management; Transparency; Trust

Coverage

Balaji K., School of Business and Management, CHRIST University, Bengaluru, India; Rahman H.U., Interdisciplinary Research Centre for Finance and Digital Economy, King Fahd University of Petroleum and Minerals, Dhahran, Saudi Arabia

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 978-981966495-5; 978-981966494-8;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1007/978-981-96-6495-5_6

https://www.scopus.com/pages/publications/105024266585?origin=resultslist