Select Category: Featured Post

In September 2024, California’s governor signed SB 219 into (adding to already signed SB 253 / SB 261 / AB 1305). California is the leading state to focus on a Climate Action agenda. The California Air Regulation Body (CARB) is an agency with a focus on getting feedback for SB 219 (till Feb 14 2025), yet one thing is certain that public and private companies conducting business in California will be required to report their Scope 1, 2 and Scope 3 emissions for the year 2025 (reporting in early 2026) as well as assurance requirements. SB 253 and SB 261, both enacted in 2023, require business entities formed under the laws of California, the laws of any other state of the United States or the District of Columbia, or under an act of the Congress of the United States (“US-based entities”) to report specified greenhouse gas (GHG) emissions and climate related financial risks. The disclosures required under these laws will, among other things, improve transparency from companies regarding their GHG emissions and climate-related risk management practices to better inform the decision-making of Californian consumers, investors, and members of the public. The legislation will improve access to consistent, standardized information from the largest companies doing business in California regarding their GHG emissions and the risks they face from the impacts of climate change. SB 253, the Climate Corporate Data Accountability Act, requires US-based entities with more than $1 billion in annual revenue doing business in California to annually report all direct GHG emissions (scope 1), indirect GHG emissions from consumed energy (scope 2) and indirect upstream and downstream GHG emissions (scope 3). SB 219 amends parts of SB 253 regarding regulatory timelines and the timing of scope 3 emissions reporting, fee payment, and other provisions. SB 261, the Climate Related Financial Risk Act, requires US-based entities with more than $500 million in annual revenue doing business in California to biennially report any climate-related financial risks they have identified and any measures they have adopted to reduce and adapt to those risks. SB 219 amends parts of SB 261 on the timing of fee payment, among other provisions. Check out this infographic that shows the timeline of all events. Check out this infographic for a quick summary.   While there are ongoing litigations and discussions on the applicability, standards in regulation, data reporting and climate related  corporate data accountability act, and financial risk disclosure, one thing is certain that if you have not yet started on this journey you must begin sooner than later. Adhering to new regulations requires a cross-functional organizational effort to get a program in place. Specifically for an upstream and downstream supply chain, you would have to ensure that you provide them with an easy-to-access tool in order to have a secured and auditable data collection of your emission data. Companies operating across jurisdictions should align with all relevant climate disclosure regulations simultaneously to streamline reporting and close compliance gaps. This approach is particularly efficient given the overlap between SB 219, the Corporate Sustainability Reporting Directive (CSRD) and other sustainability reporting. Our experts can help you here to navigate this. We can help to get started on for California’s Climate Disclosure Regulations (SB 253 / SB 261 / AB 1305 / SB 219) please click here to get started.  

This blog post is about sustainability data exchange and how it is a universal connector for audit conformance.

This blog post is about how multi-party data collaboration plays a major role in Scope 3 emissions reporting.

The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is a global initiative to help airlines achieve carbon-neutral growth by mandating carbon offsetting and sustainable practices. While essential for sustainability, compliance poses challenges such as complex emissions tracking, reporting, and ensuring transparency, often leading to inefficiencies and higher costs. #dltledgers simplifies this process with blockchain-powered solutions, enabling accurate reporting, automated workflows, and transparent carbon management. Airlines can streamline CORSIA compliance while advancing their sustainability goals effectively. What is CORSIA and Why Does It Matter? The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is a global initiative established by the International Civil Aviation Organization (ICAO) to address the environmental impact of international aviation. Its primary objective is to stabilize net CO₂ emissions from international flights at 2020 levels, effectively capping emissions growth from this sector. CORSIA’s implementation is structured in phases: Pilot Phase (2021–2023): Voluntary participation by all countries. First Phase (2024–2026): Participation is mandatory for all countries except those exempted. Second Phase (2027 onwards): Participation is mandatory for all countries. To ensure effective monitoring, reporting, and verification (MRV) of emissions, CORSIA requires airlines to: Monitor: Accurately track CO₂ emissions from international flights. Report: Submit annual emissions data to their respective national authorities. Verify: Undergo third-party verification to confirm the accuracy and completeness of the reported data. Accurate carbon offset tracking and transparency are crucial for the integrity of CORSIA. They ensure that the carbon credits used for offsetting represent real, additional, and verifiable emission reductions, thereby preventing double-counting and maintaining environmental credibility. By adhering to these requirements, airlines contribute to a unified global effort to mitigate the aviation industry’s impact on climate change. Challenges in Achieving CORSIA Compliance 1. Complex Monitoring and Reporting: Airlines must track and report their emissions accurately, which requires sophisticated data collection systems and coordination across multiple operational teams. Any inaccuracies in data collection can lead to non-compliance or penalties. 2. Verification Burden: Third-party verification of emissions data is mandatory under CORSIA. This adds an administrative burden and increases compliance costs, especially for smaller airlines with limited resources. 3. Carbon Offset Validation: Ensuring that carbon offsets meet CORSIA’s stringent criteria—real, additional, verifiable, and not double-counted – can be challenging. Airlines often struggle to source and validate high-quality offsets. 4. Lack of Transparency: Traditional compliance methods rely on manual processes, which can result in a lack of transparency and trust among stakeholders. This opacity makes it difficult to audit and verify carbon management practices effectively. 5. Integration Challenges: Many airlines face difficulties integrating CORSIA compliance requirements into existing systems. This results in inefficiencies and delays in achieving regulatory alignment. 6. Cost Implications: The cumulative costs of monitoring, reporting, verification, and sourcing offsets can be prohibitive, especially for smaller airlines or those operating in developing markets. How #dltledgers Simplifies CORSIA Compliance Blockchain-Powered Transparency: #dltledgers’ Proteus platform leverages blockchain technology to create an immutable and transparent record of carbon emissions and offsets. This ensures all data is securely stored, traceable, and tamper-proof, providing stakeholders with confidence in the integrity of compliance processes. Automated Monitoring, Reporting, and Verification (MRV): The platform automates the MRV process by seamlessly capturing emissions data, generating accurate reports, and facilitating third-party verification. This reduces manual effort, minimizes errors, and speeds up compliance workflows. Effortless Carbon Offset Tracking: #dltledgers streamlines the process of tracking and validating carbon offsets, ensuring they meet CORSIA’s rigorous standards. With real-time visibility into offset transactions, airlines can avoid issues like double-counting and maintain credibility. Seamless System Integration: The platform integrates easily with existing airline data systems, eliminating the need for overhauls or disruptions. This ensures a smooth transition to digital compliance processes without significant operational downtime. Cost and Time Efficiency: By automating labor-intensive tasks and providing end-to-end visibility, #dltledgers helps airlines significantly reduce the costs and time associated with CORSIA compliance. Enhanced Stakeholder Collaboration: With a single, shared source of truth, #dltledgers fosters better collaboration between airlines, regulators, and offset providers. This improves trust and ensures all parties are aligned in their sustainability goals. Future Outlook: Beyond Compliance As the aviation industry looks beyond compliance, multi-party collaboration platforms like #dltledgers’ Proteus are paving the way for broader sustainability goals. Proteus enables seamless data sharing, real-time collaboration, and unified tracking of carbon emissions across stakeholders, fostering a transparent and efficient ecosystem. #dltledgers is driving innovation by setting new standards in carbon offsetting, leveraging blockchain to ensure offsets are verifiable, traceable, and aligned with global best practices. By integrating advanced technologies and fostering collaboration, #dltledgers empowers airlines to not only meet regulatory requirements but also contribute to long-term sustainability and climate action. Conclusion CORSIA compliance is a critical step for the aviation industry in its journey toward carbon neutrality and sustainability. While the process poses challenges, solutions like #dltledgers’ blockchain-powered platform simplify compliance, enhance transparency, and reduce costs. By embracing innovative technologies, airlines can meet regulatory requirements while contributing to global climate goals. Ready to streamline your CORSIA compliance journey? Get in touch with #dltledgers’ experts today to explore how we can support your sustainability initiatives.

This blog post is about how enterprises can simplify the processes associated with CSRD compliance using #dltledgers’ Proteus platform.

This blog post is about Renewable Energy Certificates (REC) and how you can revolutionize it with #dltledgers’ multi-collaboration platform called Proteus.

This blog post is about cross border logistics optimization and how #dltledgers’ Proteus platform helps in streamlining global shipments.

This blog post is about circular economy tracking and how it can be done using Proteus platform built by #dltledgers.

This blog post is about strengthening financial transactions using Proteus platform by #dltledgers, thereby achieving multi-party transparency.

In a major stride for fintech and sustainable supply chain management, #dltledgers has expanded its operations in the Gulf Cooperation Council (GCC) region, providing cutting-edge technology to enhance supply chain orchestration for businesses. The company’s blockchain-based platform Proteus is tailored to optimize complex trade processes, providing visibility, efficiency, and compliance for enterprises aiming to strengthen their digital and sustainable practices. #dltledgers’ solutions address critical challenges in cross-border trade by facilitating end-to-end traceability, reducing inefficiencies, and mitigating risks associated with traditional supply chains. By leveraging blockchain, businesses in the GCC are now better positioned to meet global sustainability standards and enhance their operational resilience in response to evolving regulatory requirements. With a clear focus on sustainability, #dltledgers’ approach empowers companies to meet ESG objectives, making it a leading player in the GCC’s fintech transformation. This expansion marks a significant step for the region’s commitment to sustainable growth and digital transformation. For more details, read the full press release here.