Blockchain
Announcing OpenESG: The First Open, Democratic, and Credibly Neutral ESG Scoring System
Davos, Switzerland–(Newsfile Corp. – January 17, 2023) – Innovating in the field of socially sustainable investing, ESG DAO, a UK-based organization, has unveiled OpenESG, a revolutionary new scoring system that promises to transform the way Environmental, Social and Governance (ESG) scores are determined. OpenESG is the first open, democratic, and credibly neutral ESG Scoring System that aims to restore trust in the ESG movement.
ESG Scoring Infrastructure for People and Planet
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8675/151532_8f8086864469391e_001full.jpg
OpenESG combines multiple datastreams with a diverse and decentralized expert council and data validator networks that are incentivized to measure companies’ real world impact and serve the people and the planet. Their innovative approach also democratizes the ESG scoring process by simplifying the methodology and making scores more accessible to a wider range of companies of all sizes.
OpenESG is poised to revolutionize the ESG landscape. The technology is a significant step forward in aligning the interests of businesses with the preferences of most consumers, who prioritize companies that are acting in the world’s best interests.
“OpenESG is a game-changer for the ESG industry, providing consumers and investors with the information they need to make informed decisions about the companies they choose to support. This innovative approach to ESG scoring is a significant step forward in creating a more sustainable and responsible global economy,” says Tee Ganbold, Co-Founder and Executive Chair of ESG DAO.
Building a better ESG rating system
Unlike traditional ESG scoring systems that only measure a company’s risk-mitigation capabilities, OpenESG is designed to provide a comprehensive and transparent assessment of a company’s positive and negative impact on the planet.
The system will merge several legacy and novel data streams to provide a more accurate and holistic view of a company’s ESG performance. The data is curated by a decentralized Expert Council, comprised of diverse perspectives, to ensure that no special interests can dominate the decision-making process. All Expert Council decisions will be made public, promoting transparency and restoring trust in the system.
OpenESG announced it will source diverse public and non-public data sets to get the most comprehensive landscape of relevant ESG metrics for the largest possible pool of companies, partnering with organizations and ratings agencies to get better, more frequently updated data which will be stored in a distributed knowledge graph database. Companies will be able to get their score for free in the first quarter of 2023. If your company would like an OpenESG Score, please sign-up here.
“A transparent, democratic, and credibly neutral ESG scoring system accessible to consumers, academics, businesses, and builders will become the foundation for the emergence of a new wave of apps capable of nudging customer awareness, engagement, purchasing behavior, and investment decisions towards high scoring companies. This is the basis of a flywheel that privileges good behavior and translates good corporate karma into better outcomes,” says David Aikman, Co-Founder and CEO of ESG DAO.
“Our goal is to build a system that is truly global and future compatible, using the same standards as current ESG systems, but compiling data in a more efficient way, and in real time, connecting good companies to good people and incentivizing businesses to act in the planet’s best interests.”
The OpenESG Expert Council
As a centerpiece of the OpenESG scoring system, ESG DAO is also announcing its Expert Council, comprised of the world’s leading ESG experts from different stakeholders of the society and diverse regions of the world, who provide the intellectual and ethical guidance to define and maintain a truly independent set of ESG ratings. Council members are nominated from science, academia, sustainability, finance, technology, industry, and civil society to contribute their knowledge and expertise at the global, regional, local, and industry level.
The Council currently has 10 experts but will quickly grow to over 100 co-opted members and beyond, to ensure diversity and plurality of perspectives.
OpenESG is currently recruiting new leaders for the council. The initial members include names such as Adam Werbach, Global Lead of Sustainable Shopping for Amazon; Alvaro Arregui, Managing Partner at MA2; Asher Jay, CEO and Founder at IncOperate; Lady Mariéme Jamme, Founder at Iamthecode; Oliver Niedermaier, Chairman and CEO of TAU Investments, Reem Khouri, Co-founder at Whyise, E. Benjamin Skinner, founder of Transparentem and, Kristin Rechberger, CEO of Dynamic Planet, John Haffner, Deputy Director at Hang Lung Properties and Sony Kapoor, CEO of The Nordic Institute for Finance, Technology and Sustainability. If you would like to nominate an OpenESG Expert Council member you can do so here.
The founders will be in Davos 2023, hosting a panel about the future of ESG on the 17th of January, with key leaders in the industry such as Leslie Maasdorp, VP and CFO at the New Development Bank, Chris Cleverly, President of Tingo Inc, Lei Lei, Head of Growth and Infrastructure, at NEAR Foundation, Amanda Terry, Co-Founder and Chief Operating Officer of Metagood, and Benjamin Z. Bronfman Founder of Electric Tree. For those interested in participating, reserve a spot in the panel here.
Users can subscribe to receive early access & updates, and companies can submit an application to get a score for their Brand or Product at openesg.com.
About ESG DAO
ESG DAO is building an open, democratic, and credibly neutral ESG scoring system, OpenESG, that will power a new wave of Web2 and Web3 applications that engage consumers and incentivize companies to create positive environmental and social change in the world.
Learn more about ESG DAO at esgdao.earth or OpenESG at openesg.com.
Follow ESG DAO on Twitter or join their Telegram discussions here.
CEO name: David Aikman
Email: [email protected]
Company: ESG DAO
Country/city: Zug, Switzerland
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151532
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
The post Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI appeared first on HIPTHER Alerts.
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
The post NYSE gauges interest in 24/7 stock trading like crypto appeared first on HIPTHER Alerts.
Blockchain
Online Banking Market to Grow at CAGR of 14.20% through 2033, Key Takeaways of Digital Banking, Banking Ecosystem, Financial Giants & Disruptive Startups
-
Blockchain5 days agoPhoenix Group Engages BHM Capital as Liquidity Provider to Boost ADX Liquidity and Enhance Market Dynamics
-
Blockchain5 days ago
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
-
Blockchain Press Releases5 days agoCanaan Shines at Blockchain Life 2024 in Dubai
-
Blockchain Press Releases6 days agoBybit Institutional Report 2024: Institutions Become Bullish and Eye Challenger Chains, while VC Funding Resurges for Infrastructure, Gaming, and AI
-
Blockchain5 days ago
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
-
Blockchain Press Releases7 days ago
Bybit and Franck Muller Partner with Sidus Heroes to Launch Cosmic Gears: A Pioneering Web3 Game with a $250,000 Prize Pool and Exclusive Watch Collection
-
Blockchain4 days ago
Crypto fans count down to bitcoin’s ‘halving’
-
Blockchain4 days ago
Tether USDT stablecoin goes live on TON blockchain
