Congratulations to Everyone Who Took Part in the ESG TechSprint

Picture of Oliver Platt

Oliver Platt

Product and Marketplace Manager

The ESG Data & Disclosures TechSprint recently took place on NayaOne’s Digital Transformation platform, ahead of the Digital Sandbox Sustainability Cohort, intending to spark new ideas and discussions at COP26.

The Decentralised Carbon Offsetting team took the Eureka and People's Choice Awards

They took advantage of the resources provided to them and in only three days they built a transparent and verifiable carbon offsetting solution. The solution’s ingenuity means that it not only creates a scale on which companies’ carbon offsetting is rated, using the reports submitted, but it also verifies the companies’ offsetting actions.
To create the validation independent data from satellite imagery, drones, and IoT devices are passed through machine learning algorithms. They further proposed that to keep the findings transparent, all machine learning outcomes and the data would be placed into a freely available decentralised ledger.

SDGenius took the Fast Award

Their sustainable development goal (SDG) tracker was based on the UN’s SDG goals, allowing insights to be drawn from untapped unstructured data. This technique took keywords from the SDG goals and looked at the frequency of the words used in reports. The team then took the project a step further and validated their solution, showing that a large discussion of keywords mentioned in SDG 15 correlated with low carbon outputs. In turn, this would help inform regulators when they need to intervene. The instant impact this solution has, even as a proof of concept, is startling.

HMRC-C were the Jump Award winners

Their solution was to create a mandatory carbon attribute and assign it the value to a person as a digital payment was made and aggregating the individual’s results over time; rewarding sustainable purchases and penalising the reverse. This approach proposed standardises carbon reporting, and would create transparency across the economy. Long term this could even allow credit scores to be influenced by an individual’s sustainability. The suggested standardised framework is seen below.

This solution really spoke to the team at NayaOne as the beginning of a cross-ecosystem proof of concept, from ESG, through payments, and into lending, this solution covered it all.

All the teams built parts of their solutions, no mean feat in just 3 days

A huge congratulations must go to the team too for running the event smoothly, connecting the industry and creating an environment for fast innovation.

Finally, thanks must also go to the NayaOne data and fintech ecosystem partners whose ESG data and APIs complimented the data partners.

Great to see the power of collaboration and excited to see how the ideas expand over the coming weeks and the conversations they drive at COP26.

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