Ontology has announced that it has reached a partnership with Shanghai Qingyue, a leading environmental protection NGO in China. The two sides will focus on “green finance” and work out a trusted solution for environmental information in the area of green finance using Ontology blockchain technology.

Green finance refers to any financial investment in exchange for the delivery of positive environmental externalities. Disclosure of environmental information in green finance is a key job as prescribed in a recent document released by seven China government agencies, including the People’s Bank of China and the Ministry of Ecology and Environment.

The existing disclosure system of environmental information in China still has much room for improvement, for example, there is no standard format for environmental information disclosure. Moreover, at present, disclosure of environmental information is not compulsory for listed companies and companies who have disclosed their environmental information have mostly given written descriptions with few statistics. Therefore, one of the priorities is to build a trusted and tamper-proof application for information disclosure and review.

Using Ontology’s blockchain technology, Shanghai Qingyue can put data of their businesses on the chain, allowing for data collaboration and business innovation. At the same time, data owners are able to authorize business organizations or research institutions to authenticate data ownership. With the help of Ontology’s distributed data exchange protocol, individuals and institutions will have easy access to on-chain data packages for a certain data use fee.

Shanghai Qingyue has analyzed and inspected more than 500 companies using big data technology, and has helped dozens of listed companies with their disclosure of environmental information, including information about air, water, radiation, weather, and sources of pollution. Now combined with Ontology’s blockchain technology, its trusted solution for environmental information in green finance will strengthen the connection between all parties and provide the infrastructure for the development of green finance.

Ontology will use its technology to help Shanghai Qingyue create a trust collaboration platform for relevant stakeholders, which will help reach more users at home and abroad faster, and provide the infrastructure for the development of green finance. Looking forward, using blockchain technology for its trustworthiness and transparency, the two sides will also help more companies provide reporting on green and sustainable development, and promote the development of green finance.

About Shanghai Qingyue

Shanghai Qingyue is a big data operator for environmental protection. It provides environment-related big data support for over 1,500 research institutions and teams up with a dozen of Chinese environmental organizations to offer third-party independent supervision and services in pollutant discharge permit and green finance. Shanghai Qingyue is dedicated to making environmental information and data accessible to all, improving environmental protection with information technology, keeping the public better informed of and supervising environmental quality, and helping the government provide better public services. It is partly funded by Alibaba Foundation and SEE Foundation.

For further information, please visit: http://www.epmap.org (中文).