This session builds on a roundtable held at the Point Zero Forum in July 2024, where experts discussed the potential of trusted machine identity to underpin granular, verifiable green data for financial reporting. The roundtable identified the opportunities & challenges in acquiring the data from verified machines and the need to harness identity and market incentives if SMEs across emerging and developing markets are to engage in digital transformation necessary to achieve climate goals.
In the follow-up discussions with the participants and stakeholders in the green reporting data ecosystem, it is becoming evident that the stakeholders struggle to trace the provenance and assess the integrity of data for green reporting, especially for Scope 3. Granular standardised data remains rarely available even where machines and monitoring devices can be deployed to collect and analyse it. A hurdle to sharing data beyond closed proprietary networks or platforms is lack of common, trusted and decentralised identifiers of machines or devices and mechanisms to verify authenticity and veracity of claims from the companies sourcing or sharing data.
Initiatives in place today, such as the Partnership for Carbon Transparency (PACT) and the Net-Zero Data Public Utility (NZDPU) have laid foundations for collaborative data sharing and analysis to help fulfil ESG and climate related reporting obligations. Coupled with advances in data standards and the foundations provided by the GLEIF and verifiable LEI (vLEI) role credentials, machine identity can enable the provenance of data to be sourced across platforms and companies. Furthermore, the control, access and monetisation of data flows might be arranged to support broader participation by SMEs.
This session will bring together a core group of value-chain participants, financial institutions and service providers to advance operational plans for a public-private pilot and agree principles for collaboration.
Insights Forum
Roundtable Room 3, Sands Expo & Convention Centre, Level 4
