KPMG unveils blockchain-based infrastructure to help clients track their greenhouse gas emissions

Big Four accounting firm KPMG is positioning a new blockchain-based accounting capability to help companies in their efforts to reduce their environmental footprint.

On October 6, KPMG announced a patent-pending blockchain-based capability, the Climate Accounting Infrastructure (CAI). The initiative aims to help organizations better measure, mitigate, report, and offset climate-changing emissions, according to a KPMG press release


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CAI will track an organization’s emissions and offset records on a blockchain, which will be integrated into an organization’s existing systems. Real-time environmental data and advanced analytics will be recorded on CAI as well to model the impact of climate risks on financial performance, according to the firm.

The rationale behind the project is that capital market investors and consumers increasingly expect organizations to meet environmental, social, and corporate governance demands (ESG). To meet those expectations, KPMG is positioning the technology to track sustainability and comply with climate change legislation. 

“Trusted reporting capabilities, such as those enabled by Climate Accounting Infrastructure, will be critical to meet stakeholder expectations and to comply with emerging regulations," said Arun Ghosh, KPMG's U.S. Blockchain leader, in a statement.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.