At the beginning of this year we decided it was necessary to revisit our strategy in order to align with the shift in market behavior brought on by the covid-19 pandemic. The unprecedented pause in traditional economic activity, as well as changes in societal behaviour due to the pandemic, have coincided with an accelerating climate emergency.
While our goal at Vasanda was always to build a solution that created transparency in the global supply chain, our intention behind this was to expose through this technology the impact data needed to provide a comprehensive sustainability outlook of each and every trade journey. We have now realized that instead of these sustainability indicators being a by-product of our technology, we want to bring them to the forefront and, moving forward, lead with a strong eco-friendly mentality.
Our EcoSphere platform allows constant monitoring of scientifically verifiable environmental data in near real-time, giving a full and clear view of what up until now has been a very fragmented view of the entire trade journey. Our MRV tool (measurement, reporting and verification) is a dynamic assessment tool validated by blockchain to ensure traceability and reliability of the information, enforcing higher reporting standards and accuracy.
Years of self-regulation by financial institutions and corporations in the area of sustainable trade is now being rapidly replaced by government interventions as well as the introduction of sustainability standards. One such example is the EU Taxonomy, an effort designed to define EU-recognized criteria for identifying sustainable activities. It defines the minimum criteria that economic activities should comply with in order to be considered environmentally sustainable.
The challenge now faced by banks, corporations and others is how to measure and quantify the impact of the business activities they conduct or financially support. The myriad of data available can be difficult to navigate or is simply consolidated into generic and non-specific ratings that cannot be used for effective, accurate reporting purposes. A more detailed and actionable evaluation is required for the evolving nature of trading soft commodities and Vasanda provides this in the form of aggregated empirical data from specialist sources. This scientific data empowers the user to make informed assessments in real-time on sustainability targets such as the United Nations Sustainable Development Goals (SDGs) – a series of environmental, social and political efforts – as well as providing compliance with emerging global regulatory standards.
While many fall short in an attempt to comply with all 17 of the UN’s sustainability goals, Vasanda delivers revolving impact data by focusing on key SDGs, with specific focus on four critical areas and an emphasis on agricultural soft commodities as an asset class. Our belief is that these insights can prompt real change in the environmental issues that currently plague the trade world, with special focus on ending deforestation and moving towards a carbon neutral economy.
Our ambition is that by setting the standard in MRV technology we will encourage a more comprehensive adoption of ESG and sustainable finance practices, combining verifiable and scientific data as opposed to statistical algorithmic assumptions that have no basis in reality. By doing this we hope to contribute back towards an equitable supply chain and a greener global trade economy.
If you are interested in learning more about how Vasanda EcoSphere can help your organisation with your sustainability reporting or more about how to get a trial of our MRV tool then you can directly get in touch with our Product Team in technical sales on firstname.lastname@example.org.