ESG stands for environmental, social, and governance, these are the three major factors in estimating the sustainability of an investment. It is based on the concept of the ‘triple bottom line’, also known as ‘people, planet and profit’ (PPP) which was introduced in the 1990s.
This concept contended that businesses should focus on each of the three ‘P’s’ and not just ‘profits’, as each of them is equally important for any business venture to be sustainable. The same concept evolved into the focus of ESG, which is the basis for Sustainable and Responsible Investment (SRI) today.
It has a set of standards for company operations that socially conscious investors use to screen potential investments. It is an assessment of the company’s collective loyalty to social and environmental factors. Based on all the effort businesses have put in to become ESG compliant, they also get an ESG rating which becomes very important these days as investors look at all of these before taking any investment decision.
How RICHMINT DAO is making businesses more environment Friendly
The RICHMINT DAO platform and blockchain is focusing on supporting and tokenizing sustainability businesses globally. We take an in-depth look at companies from the perspectives of E, S, and G to evaluate their position relative to their counterparts. RICHMINT DAO will deploy blockchain-based solutions that will help businesses improve their ratings and status.
Environmental benchmarks examine how a business contributes to and performs environmental challenges such as energy consumption, pollution control, climate change, and waste management.
Environmental problems are directly related to energy production and consumption. The emission of air pollutants from the combustion of fossil fuels is the major cause of urban air pollution. The bad fact is that most businesses currently rely on energy production from industrial plants, and these plants generate energy by burning fossil fuels.
RICHMINT DAO is decentralizing the Financing of Sustainable RE infrastructure. Which will help businesses to shift their dependency on energy toward Renewable Energy Sources.
Energy production is the major cause of various pollutants including air pollution, water pollution, climate change, thermal pollution, and solid waste disposal by making the path to easy adoption of renewable energy. The company will also help businesses in many other ways and it will definitely help businesses to get a better rating. The project is also planning to tokenize Emission Certification for pollution control which will help businesses even further.
The Project will also keep businesses up-to-date with all the climate changes statistics and will also keep them updated with the changes they can do to become a more eco-friendly business while not harming your business operations and keeping you ahead in the race for ESG compliance.
Waste management is a very serious topic and many businesses till now find it hard to deal with the waste they produce. Whether you are in the energy sector healthcare or agriculture. With a better waste management system and by connecting various businesses together RICHMINT DAO is making sure that all the problems get resolved effectively.
RICHMINT DAO is a versatile project that is utilizing features of blockchain technology, NFTs, and dual token mechanisms to support businesses to gain better ESC ratings. Check out the project and whitepaper to know more about RICHMINT DAO.