Blockchain
Despite Plans to Reach Net Zero, 53% of Fintechs Could be Unintentionally Greenwashing
![despite-plans-to-reach-net-zero,-53%-of-fintechs-could-be-unintentionally-greenwashing](https://theblockchainexaminer.com/wp-content/uploads/2024/01/49363-despite-plans-to-reach-net-zero-53-of-fintechs-could-be-unintentionally-greenwashing.jpg)
In the last five years, the push for a green-first attitude has become extremely prevalent in the fintech sphere. However, some firms are going too far, reveals Ivalua, the cloud-based spend management software provider, and unintentionally greenwashing.
Greenwashing, the practice of exaggerating a company’s or product’s green credentials, thereby misleading consumers and hindering meaningful climate action, has become a mainstream thing that many firms wish to avoid. In 2022, a Google Cloud report revealed that 58 per cent of executives believed their companies were overstating their green initiatives. While there has been a strong effort to be rid of greenwashing, research from Ivalua has shown that 53 per cent of firms are still doing it unintentionally.
“Organisations are aware they must urgently address sustainability, and understand the cost consequences of not doing so. But this lack of confidence paints a negative picture,” comments Jarrod McAdoo, director of sustainable procurement at Ivalua. “A lack of perceived progress could fuel accusations and fears of greenwashing, so it’s important to remember that obtaining Scope 3 data is part of the natural maturation process.”
The study reveals that less than half (44 per cent) of organisations claim they are “very confident” that they can “accurately” report on Scope 3 emissions. While nearly two-thirds (61 per cent) say reporting on Scope 3 emissions feels like a ‘best-guess’ measurement.
Proactively managing Scope 3 reporting
With the UK government considering the inclusion of Scope 3 emission disclosure within the Streamlined Energy and Carbon Reporting (SECR) framework, it’s imperative organisations manage Scope 3 reporting proactively. Over time, organisations must substantiate green claims with verifiable data rather than relying on best guesses.
The research also shows nearly two-thirds of organisations agree that the cost of not taking action will far outweigh the cost of implementing green initiatives. But while 87 per cent of organisations are confident they’re on track to meet net zero targets, many don’t have comprehensive, fully implemented plans in place for:
- Adopting renewable energy (77 per cent)
- Reducing carbon emissions (73 per cent)
- Adopting circular economy principles (73 per cent)
- Reducing air pollution (71 per cent)
- Reducing water pollution (68 per cent)
McAdoo added: “Many sustainability programs are in their infancy, and organisations need to start somewhere. Estimated data can help determine climate impact and contribute to building realistic, actionable net zero plans. Over time, organisations will need to make significant progress on obtaining primary Scope 3 data and putting plans in place, or risk financial penalties as well as ruining reputations in the long run.”
How to build trust
“But absolute accuracy could be hard to achieve without significant investment. Organisations shouldn’t spend time and money fixating on 100 per cent accuracy. Instead, they need to equip procurement teams and the wider business with good data and insights. This will empower procurement teams to start taking action to identify unsustainable suppliers and ensure the business is headed in a greener direction.”
Biggest challenges
Working with suppliers will be critical in achieving net zero. The research found that over half (55 per cent) of organisations agree that green initiatives to reach net zero goals that don’t involve suppliers are a waste of time. Ineffective supplier collaboration (26 per cent) was also among the top challenges organisations must overcome, with other challenges including:
- Other objectives being prioritised, such as cost and risk (27 per cent)
- Supplier resistance to reduce emissions (26 per cent)
- Supplier inability to assess emissions (25 per cent)
- Poor visibility into sub-tier suppliers (22 per cent)
- Incomplete, absent or unreliable data on sustainability (22 per cent)
“Nearly two-thirds of organisations agree that an inability to measure supplier emissions accurately makes it hard to turn words into action”, concluded McAdoo.
“There is a clear need to adopt a smarter approach to procurement. Organisations need granular visibility into their supply chains to ensure they can measure the environmental impact of suppliers, but also collaborate with suppliers to develop improvement plans. Only with this transparency can organisations showcase meaningful sustainability progress and avoid accusations of greenwashing.”
Source: TheFintechTimes
The post Despite Plans to Reach Net Zero, 53% of Fintechs Could be Unintentionally Greenwashing appeared first on Hipther Alerts.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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