InnoBlock Technology Builds Hong Kong’s First ESG Data Platform on AWS
- Written by Telegraph Magazine
WWF-Hong Kong collaborates with the company to help organizations reduce carbon emissions
HONG KONG SAR - Media OutReach - 7 September 2022 - Amazon Web Services (AWS), an Amazon.com company, today announced that blockchain specialist InnoBlock Technology (InnoBlock) has built TT Green, Hong Kong’s first environmental, social, and governance (ESG) data platform, on AWS. The platform automatically tracks and reports standardized ESG data across resource consumption, carbon emissions, and human capital management using APIs and sensors deployed throughout an organization’s information technology (IT) infrastructure. The platform, which was advised by leading global conservation organization WWF-Hong Kong, enhances organizations’ ability to collect and report emissions reductions based on the world-recognized protocols and Low Carbon Operation Program (LOOP)PLUSB.E.S.T. sustainability framework, helping organizations integrate sustainability into their daily business.Traditionally, ESG data tracking and recording involved manual processes that lacked data traceability, transparency, and quality to establish immutable ESG credentials. This prevented companies from reaching their sustainability goals in a timely fashion. With the breadth and depth of AWS capabilities, including containers, databases, and machine learning, InnoBlock built TT Green to help organizations accurately understand their environmental impact so they can take action to reduce greenhouse gas emissions, comply with global standards, and obtain credible green certifications and green financing.
TT Green collects third-party data—including smart buildings’ water and electricity consumption—via Internet of Things (IoT) sensors embedded into devices like electricity meters which are located on the edge of the network. TT Green then sends the data to its blockchain network. Using Amazon Elastic Kubernetes Service (Amazon EKS), a managed container service designed to run and scale Kubernetes applications, TT Green then helps users automatically transmit and integrate the data in the cloud. InnoBlock also developed a greenhouse gas calculator based on the Greenhouse Gas (GHG) Protocol and the Intergovernmental Panel on Climate Change (IPCC) guidelines. The calculator allows organizations using TT Green to quantify and track emissions quickly and accurately against sustainability goals based on the immutable ESG data stored in the blockchain network on AWS.
With Amazon Relational Database Service (Amazon RDS), a service that helps customers set up, operate, and scale a relational database in the cloud, InnoBlock can efficiently store ESG data, minimize database management time, and allow organizations to track operations using real-time performance data. Using Amazon SageMaker, a fully managed service that enables data scientists and developers to quickly and easily build, train, and deploy machine learning models at any scale, InnoBlock provides improved performance analysis for sustainable target planning and monitoring.
“AWS helped us develop Hong Kong’s first truly credible ESG reporting platform. The cloud allows us to maximize the power of blockchain technology by using IoT and machine learning services to track our customers’ ESG efforts accurately and provide ESG reporting and analysis,” said Kevin Ng, CEO at InnoBlock Technology. “We believe this platform will help our customers meet and exceed global ESG standards faster and plan to roll out the platform across Asia this year.”
Karen Ho, Head of Corporate and Community Sustainability at WWF-Hong Kong said, “WWF works to sustain the natural world for people and wildlife. Despite more companies committing to net zero goals in fighting climate change, delivering Scope 3 emissions reduction remains a huge challenge. Digital innovation platforms such as TT Green, powered by AWS, can help organizations track and trace their carbon performance throughout their value chains, optimize mitigation opportunities, and respond to rising expectations from investors, customers, and civil society.”
"Technology has become central to helping companies meet their ESG goals. At AWS, we continue to invest in sustainability across our infrastructure and services, and help our customers build sustainable businesses," said Chris So, Head of Business Development, Hong Kong and Macau, AWS. "We are glad to see InnoBlock using our technology to innovate and work with an organization like WWF to help thousands of organizations improve their environmental credentials."
Hashtag: #AmazonWebServices #InnoBlock
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