In a new partnership, trade data and analytics provider Coriolis Technologies will incorporate its environmental, social and governance (ESG) scoring system for commercial transactions executed and financed on blockchain platform MineHub.
Launched in 2019, the MineHub platform focuses on trade operations and document flows between metals and mining companies. It allows parties involved in selling, buying, delivering and paying for a cargo of minerals to collaborate in real time, sharing electronic information rather than couriering or emailing documents that are subject to interception, fraud and cyber threats.
In December, the company launched MineHub ESG, a tool that allows companies to capture and administer the ESG credentials of their brands and products, request and record third-party certification of this information, and then have this certified data automatically included into the transaction datasets related to the sale, purchase or financing of their products.
This latest tie-up will allow MineHub users to include the Coriolis Kosmos ESG score in their brand profile and transaction data sets. The Kosmos ESG score is an independent rating based on publicly available data sources, which captures the performance of companies and their products against the 17 Sustainable Development Goals (SDGs) defined by the United Nations. This rating mechanism is being developed and validated through the Kosmos working group, consisting of over 50 leading financial institutions including banks, insurers, professional bodies, enterprise development specialists, and multilateral organisations. MineHub is also a member of the Kosmos working group.
The two companies say that the combination of the MineHub platform and the Kosmos ESG score is a solution that “applies at many levels – from standalone transactions through to large-scale supply chain finance facilities.”
“The Kosmos ESG score is a perfect example of a fundamental data point that can immediately unlock value for our users,” says Arnoud Star Busmann, MineHub CEO.
The Kosmos ESG score is anticipated to be available on the MineHub platform in April.