Enhancing Esg Data Integrity Through Blockchain: A Comparative Analysis Across Emerging Markets
Ajay Kumar Kapoor, Jagdeep Singla, Gunjan Bhayana · Nanotechnology Perceptions · 2023
The Environmental, Social and Governance (ESG) system of practices are increasingly part of investment and corporate responsibility. Nonetheless, ESG reporting in such emerging markets is usually marred with the issue of data opacity, disparate standards and greenwashing thus, dragging down its credibility. As the world continues to seek a rise in efficiency, verifiability, and integrity of sustainability reporting, blockchain has been seen as a possible solution to add integrity to ESG information via immutability, traceability, and decentralization. The research makes a comparative case study assessment of a few emerging economies including India, Brazil, South Africa, and Indonesia to create an assessment of how blockchain solutions are being incorporated into ESG reporting framework. It assesses the level of adoption of blockchain, determinants to the adoption and proposes strategic interventions using qualitative secondary data analysis. Results indicate that although pilot blockchain applications can be conducted within the supply chain and energy sectors, they have not gained significant implementations in the ESG systems because of the regulatory vagueness and technological limitation. Therefore, the paper provides advice on policy frameworks and collaborative models that will aid the blockchain-based ESR reporting to improve sustainability, transparent, and investor confidence within the emerging markets.