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CSR Reporting WG

CSR Reporting WG

Nov 11, 2021

Mission

The mission of this working group is to:

  • explore solutions leveraging blockchain to enhance Corporate Social Responsibility (CSR) Reporting and to mitigate greenwashing

  • combine the expertise of Hyperledger's Special Interest Groups

  • identify the role of open-source technology in blockchain-based CSR reporting

Why now?

Corporate Social Responsibility (CSR) is the idea that a business has a responsibility to the society and environment in which it operates (acc. to Sustainable Business Strategy).  With new developments such as the EU Corporate Sustainability Reporting Directive which extends the scope of CSR reporting and requires the audit of reported information, corporations must seek new ways to capture and share trusted information about their impact. There is a growing demand for CSR reporting and the current state of the art needs to change to address the following stakeholders needs:

People

Investors

  • ESG (Environmental, Social, Governance) investing grew to more than $30 trillion in 2018, and some estimates say it could reach $50 trillion over the next two decades (Source)

  • “Our conviction is that companies perform better when they are deliberate about their role in society and act in the interests of their employees, customers, communities and their shareholders.” — BlackRock, 2021

  • According to the second annual Corporate Social Responsibility Survey from Aflac, FleishmanHillard Research, and Lightspeed GMI, more than 80 percent of professional investors prefer to invest i a company known for its social responsibility

Corporations:

  • Being a socially responsible company can bolster a company's image and build its brand.

  • Social responsibility empowers employees to leverage the corporate resources at their disposal to do good.

  • Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.

  • Better access to finance when environmental, social, and governance considerations are incorporated into external reporting

Governments: !!!

On 21 April 2021, the Commission adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), which would amend the existing reporting requirements of the NFRD. The proposal

  • extends the scope to all large companies and all companies listed on regulated markets (except listed micro-enterprises)

  • requires the audit (assurance) of reported information

  • introduces more detailed reporting requirements, and a requirement to report according to mandatory EU sustainability reporting standards

  • requires companies to digitally ‘tag’ the reported information, so it is machine readable and feeds into the European single access point envisaged in the capital markets union action plan

Resources

"Blockchain Technology Enabling Sustainable Development Verification and Approval"

Active Members 

Name

Company

Expertise

Location

Name

Company

Expertise

Location

@Robin Klemens

Blockchain Lab at Institute for Internet Security

Software development & architecture, blockchain & SSI (DID, VC)

Mainz, Germany (CET)

@kamlesh nagware

CTO Snapper Future Tech & Co-Lead Hyperledger India Chapter

Blockchain architect, strategy, Consulting 

Pune, India

@Woody Moore

ICANN

Communications, Project Management, Product Marketing, Go-to-Market Strategy, Internet Governance

Los Angeles, CA

@Liz Nicol

-

Project Management, Requirements Analysis, Testing.  (Ex-developer)

UK

@Ermanno Camerinelli 

Berbrand srl

Sustainability Specialist

Italy

 

 

 

 

Workplan for 2021

Fill out the Value Proposition Canvas from the perspective of a CSR reporting department in an interactive working session with the Social Impact SIG on Oct 12, 2021 
Fill out the Value Proposition Canvas from the perspective of a CSR reporting department in an interactive working session with the Trade & Finance SIG on TBD
Conduct Market Research to define use case
Qualitative Research
Use opportunity canvas to capture input from SIG members
Informational Interviews with CSR stakeholders 
Identify pain points and Target Market
Create use case
Publish a blog post about the initiative to increase awareness and participation Oct 19, 2021 
Report findings and Use to Social Impact SIG, Trade & Finance SIG, Supply Chain SIG?

Ways to Contribute

  • Leave your feedback on the general idea

  • Formulate a use case and publish it on our wiki

  • List potential partners that are eager to prototype first solutions with us

  • Do you know someone to whom should we reach out to (1) for interviewing (2) inviting to join the movement?

  • Gather information about the process of CSR reporting of corporations

    • What standards do they follow?

    • How much money do they spend for (1) internal CSR reporting (2) third-party assurance

  • Come up with ideas on how to best collaborate cross-SIG 

  • Participate in the Value Proposition Canvas from the perspective of working in a sustainability reporting department

 

 

Get Involved

This is an open source project. Anyone is welcome!

1) Start by subscribing to the Climate SIG mailing list for updates and meeting notifications.

2) Add your name to the Active Members list. 

3) Take a look at Ways to Contribute and join us.