On April 27, Webank announced the launch of a new brand of "Webank Blockchain" and proposed to build a trust base for the participation of the government, the public and enterprises in ESG (Environmental, social and corporate Governance) strategy.
Li Naqing micro the bank President said at the news conference, the mission of financial technology is from pure, promote efficiency to promote fair and sustainable development under the background of new era, the company will promote fairness and sustainable development by micro the block chain, for the development of digital economy, boost carbon peak and carbon neutral, and a series of national strategic goals and services.
ESG landing puts forward higher requirements for technology and matching the characteristics of blockchain
Since the 21st century, global policies on responsible investment and sustainable development finance have been increasing year by year. Especially after the signing of the Paris Agreement in 2016, governments of all countries have attached more importance to green industry investment, including climate issues. According to the Responsible Investment Principles (PRI), by the end of the third quarter of 2021, 86 countries around the world had issued more than 750 policy tools and guidance documents containing ESG factors.
Ma Zhitao, vice president and chief information officer of WeBank, said at today's press conference that ESG has raised some new requirements for its landing. First is the demand of credible data and privacy protection, participation in the application of ESG role very much, involving data can also be very sensitive, combined with our country more and more high to the requirement of data compliance, data is becoming more and more big difficulty, therefore, in the applications of ESG privacy, data authenticity requirement put forward higher request for technology; Followed by the trusted coordination and incentive mechanism, application of ESG will involve many different roles, authorities and their active participation and the corresponding control function is critical, a credible cooperation and incentive mechanism to stimulate greater participation, and trust, esteemed as a result, application of ESG higher credible governance also needs to meet the requirements, therefore, Penetrating supervision and transparent governance must be guaranteed to reduce compliance and audit risks.
"Many of the requirements proposed in ESG applications can be met by the features of blockchain technology, including multi-party consensus, privacy protection, trusted verification, incentive compatibility, full traceability, etc., which are highly compatible with some of the requirements in ESG applications." Ma zhitao said. Based on this, Webank chose to seize the opportunity of ESG.
How to build an ESG trusted infrastructure? Adopt the layout of "two foundation + two promotion"
For detailed how to build ESG reliable infrastructure, the commercial Banks distributed technology development, deputy general manager, micro chain, head of the bank blocks Fan Ruibin said at the news conference, will take "two basic + drive", the layout of the is based on open source technology and ecology, push the ESG application and talent cultivation.
It is understood that Webank began to lay out the blockchain layout in 2015. In 2017, Webank realized the independent security and control of blockchain technology, and led the research and development of the underlying blockchain platform FISCO BCOS completely open source. So far, The open source alliance chain ecosystem jointly built by Wezhong Blockchain and various parties has gathered more than 3,000 institutions and enterprises, and more than 70,000 individual members.
Fan Ruibin said that in order to better promote the development of ESG, micro blockchain will focus on key technical capabilities such as privacy computing, trusted governance and distributed digital identity, research and development of ESG application framework and ecological open source, and promote the implementation of ESG related businesses. Through the open source ecosystem, Weizhong blockchain will also connect more forces to jointly promote the development of ESG industrial applications.
Fan Ruibin further said that the development of the industry is inseparable from the cultivation of talents. In the field of talent cultivation, WeBank has established a blockchain talent cultivation system together with its partners in the field of training in the past few years. In this system, students who pass the certification examination are likely to obtain the certification issued by the authority of the Ministry of Industry and Information Technology. In this process, WeBank provides training courseware, teaching materials, examination question bank, certification standards and other support. "In the future, we hope to integrate ESG related content into courseware, teaching materials, exam question bank, talent certification standards and other aspects more comprehensively, and fully combine ESG related concepts and excellent case practices to cultivate talents who not only understand blockchain, but also have ESG concept and support for composite industry."