According to Bloomberg Markets, greenwashing enters a $22 trillion debt market, derailing climate goals. Bloomberg highlights that there have been empty ESG pledges, with bonds benefiting companies instead of the planet. There have also been more reports highlighting greenwashing through various forms of media, misleading consumers into thinking that a company is doing its part to combat climate change.
To help validate the ESG efforts of companies, MetaVerse Green Exchange (MVGX®) launched its Carbon-Integrated Enterprise Resource Planning (ERP) system on 13th October, together with Oracle NetSuite and Beijing Zeepson Technology Co., Ltd. (hereinafter referred to as “Zeepson Technology”).
The system is the world’s first high-quality Enterprise Financial + Carbon-Integrated ERP System. It serves as a one-stop service for businesses, providing everything from ISO and regulatory-compliant carbon footprint analysis to carbon asset income analysis. These can help businesses to quickly and accurately understand their financial and carbon balance sheets whilst uncovering feasible measures to reduce their emissions. It can also allow businesses to be certified for reducing their carbon emissions or achieving carbon neutrality. Ultimately, this helps businesses formulate their carbon asset income programmes.
KK Pan, Oracle’s Global Vice President and General Manager of Oracle NetSuite Asia, mentioned that they are very happy to be able to work with MVGX® and Zeepson Technology to launch the Oracle NetSuite ERP system that is augmented by MVGX®’s blockchain-based carbon ERP system. They emphasized that this system allows them to provide financial and carbon-based services more comprehensively for their clients in Asia.
Michael Sheren, MVGX®’s President and Chief Strategy Officer also highlighted that greenwashing has always been considered a problem in the field of environmental protection. Hence, it is crucial to establish a sound prevention and supervision mechanism for it and create a rigorous and honest process. As such, the high-quality Enterprise Finance + Carbon ERP System jointly launched by Oracle NetSuite, MVGX®, and Zeepson Technology contributes to the global anti-green efforts.
Following this, Lily Hong, MVGX®’s Chief Technology Advisor, and Zeepson’s CEO, also highlighted that with the participation of third-party international certifying organizations (e.g., BSI, TÜV SÜD), the entire system becomes authentic and compliant from a regulatory perspective. This greatly boosts the clarity and comprehensiveness of ESG reports, thus preventing instances of greenwashing.
There is hope that the Enterprise Finance + Carbon-Integrated ERP System can help businesses quantify their carbon emissions and work towards their sustainability goals, empowering more businesses to develop in a green, low-carbon manner.
To learn more about the Enterprise Finance + Carbon-Integrated ERP System and how it can help your business be more sustainable or to view a demo, do drop us a note today at email@example.com!