Blockchain is the technology that Bitcoin uses to track financial transactions. But sustainability professionals are eyeing it for other uses, including tracking product components through the supply chain to verify the end-product qualifies for a sustainability-related certification. This will certainly make it easier for manufacturers to report on sustainability performance.
And it will help anyone doing a greenhouse gas inventory who is trying to account for the climate impacts of their purchases (a major part of “Scope 3” emissions). Purchases are often one of the largest sources of a company’s greenhouse gases but accounting for purchases has been one of the most confounding tasks in a greenhouse gas inventory. The bulk of a greenhouse gas inventory is a simple matter of multiplying your electricity, gasoline and natural gas use by the appropriate factors.