Blockchain-Enabled ESG Management: Enhancing Data Authenticity and Transparency

Blockchain has a virtual path that is immutable and allows for secure and transparent business transactions and reduces the need for mediators. This chapter outlines the use of blockchain in the management of ESG to boost information integrity and transparency. The purpose is to know how blockchain can potentially contribute to proving some ESG metrics, enhancing the compliance to regulations, and over legalize the reporting on sustainable development. It has been employed by doing a critical analysis of the existing applications of blockchain for ESG reporting in the current fiscal year and studies with cases including expert talk for pronouncing the impact on the data accuracy among the various sectors. According to the results, the ability of blockchain’s distributed ledger to store data concerning ESG and ensure transparency is resistant to changes. However, problems like compatibility and scalability still have not disappeared and that is why tactical solutions remain relevant. From this study, it can be inferred that there is a potential of blockchain to greatly enhance stakeholders’ confidence through transparent and exemplary ESG process, which is then likely to enhance organization’s ethical behaviour. Besides, it directly focuses on the capacity of blockchain to affect new sustainable company processes and rules and regulations. In conclusion, the use of blockchain technology brings hope in the shift of sustainability governance due to its provision of authenticity and accountability of data, hence promoting better and ethical corporation conduct. It provides valuable information to the stakeholders who want to rely on blockchain to enhance sustainable performance.