Blockchain specialist InnoBlock Technology has built Hong Kong’s first environmental, social and governance (ESG) data platform on AWS.
Called TT Green, the platform automatically tracks and reports standardised ESG data across resource consumption, carbon emissions, and human capital management using APIs and sensors deployed throughout an organization’s information technology (IT) infrastructure.
TT Green collects third-party data—including smart buildings’ water and electricity consumption—via Internet of Things (IoT) sensors embedded into devices like electricity meters which are located on the edge of the network. TT Green then sends the data to its blockchain network.
Using Amazon Elastic Kubernetes Service (Amazon EKS), a managed container service designed to run and scale Kubernetes applications, TT Green then helps users automatically transmit and integrate the data in the cloud.
InnoBlock also developed a greenhouse gas calculator based on the Greenhouse Gas (GHG) Protocol and the Intergovernmental Panel on Climate Change (IPCC) guidelines. The calculator allows organizations using TT Green to quantify and track emissions quickly and accurately against sustainability goals based on the immutable ESG data stored in the blockchain network on AWS.
“AWS helped us develop Hong Kong’s first truly credible ESG reporting platform. The cloud allows us to maximise the power of blockchain technology by using IoT and machine learning services to track our customers’ ESG efforts accurately and provide ESG reporting and analysis,” said Kevin Ng, CEO at InnoBlock Technology.
He revealed that InnoBlock plans to roll out the platform across Asia this year.
Platform will enable companies to meet ESG standards
According to Ng, the TT Green platform will enable companies to meet and exceed global ESG standards faster.
The platform, which was advised by leading global conservation organization WWF-Hong Kong, enhances organisations’ ability to collect and report emissions reductions based on the world-recognised protocols and Low Carbon Operation Program (LOOP)PLUSB.E.S.T. sustainability framework, helping organisations integrate sustainability into their daily business.
Karen Ho, head of corporate and community sustainability at WWF-Hong Kong, noted that despite more companies committing to net zero goals in fighting climate change, delivering Scope 3 emissions reduction remains a huge challenge.
“Digital innovation platforms such as TT Green, powered by AWS, can help organisations track and trace their carbon performance throughout their value chains, optimise mitigation opportunities, and respond to rising expectations from investors, customers, and civil society,” said Ho.
Traditionally, ESG data tracking and recording involved manual processes that lacked data traceability, transparency, and quality to establish immutable ESG credentials. This prevented companies from reaching their sustainability goals in a timely fashion.
With the breadth and depth of AWS capabilities, including containers, databases, and machine learning, InnoBlock built TT Green to help organisations accurately understand their environmental impact so they can take action to reduce greenhouse gas emissions, comply with global standards, and obtain credible green certifications and green financing.
With Amazon Relational Database Service (Amazon RDS), a service that helps customers set up, operate, and scale a relational database in the cloud, InnoBlock can efficiently store ESG data, minimise database management time, and allow organisations to track operations using real-time performance data. Using Amazon SageMaker – a fully managed service that enables data scientists and developers to quickly and easily build, train, and deploy machine learning models at any scale, InnoBlock provides improved performance analysis for sustainable target planning and monitoring.
“Technology has become central to helping companies meet their ESG goals. At AWS, we continue to invest in sustainability across our infrastructure and services, and help our customers build sustainable businesses,” said Chris So, head of business development, Hong Kong and Macau, AWS. “We are glad to see InnoBlock using our technology to innovate and work with an organization like WWF to help thousands of organizations improve their environmental credentials.”
