OpenESG: the birth of a neutral ESG scoring system
ESG DAO is the United Kingdom entity that is building a global, decentralised and real-time Environmental, Social and Governance (ESG) rating protocol, OpenESG, a scoring system that will power a new wave of Web2 and Web3 applications that engage consumers and incentivise companies to create positive environmental and social change in the world.
To accelerate the development of OpenESG, ESG DAO has partnered with NEAR Protocol, a carbon-neutral layer 1 blockchain platform that has worked with a number of climate organisations and incubated several startups such as Open Forest Protocol, Raiz Farms, and BeeTogether to help address some of the world’s most important environmental problems.
ESG DAO will develop and deploy OpenESG Protocol’s solutions on the NEAR blockchain. One of the first deployments, running on Astro, will be ESG DAO’s multi-stakeholder ‘ESG Expert DAO Council’ that will provide the intellectual and ethical guidance to define and maintain the world’s first independent open, democratic, and credibly neutral set of ESG ratings.
ESG DAO was created to bridge the gap between the current ESG rating systems that measure risks to a company from ESG factors, but do not reflect the company’s true impact on Planet, People, and Societies. The OpenESG scoring system changes that by looking at ESG as output metrics, and by making companies’ impacts clear and understandable. OpenESG allows companies of all sizes (from startups to large public companies) from emerging and developed markets, to build environmental and social impact into their business models and make that transparent to consumers and investors.
Learn more about ESG DAO at esgdao.earth