Over the years, different industries have claimed their products to be environmentally safe and friendly. These claims may have been from a sincere standpoint to show consumers that they have partaken in the green movement to save the environment.
Most companies also claim to go green as a marketing strategy since most people nowadays have become more concerned towards the viability of resources. Whatever the reasons every company has on shifting towards a greener way of creating products, the Environmental Credit Scoring will be able to determine companies that are true in their claims of going green.
Current Problems of Environmental Product Claims
Over the years, there have been significant loopholes on how companies have claimed that their products are good for the environment. Products you see on the market may have labels that they are safe for the environment, yet such labels only pertain about the product.
There is also an independence problem for verifiers as product providers can create their own life cycle assessments. These companies are able to achieve International Organization for Standardization (ISO) certification, yet it can still be hard to accurately determine if products or services of these companies have very low environmental impact.
Some certifications on these products do not include the environmental impact caused by the product’s life cycle. Some of these impacts include harvesting raw materials, production and shipping.
There are a lot of companies that have international green product certifications, yet there have been only little collaborative efforts amongst everyone in fighting against pollution. Furthermore, while companies are careful on minimizing negative environmental impact, consumers can be the next problem. They may be more negligent and wasteful after using these products.
What is the ECCS?
The blocked-chain backed ECCS gives rewards through points or cryptocurrency to individuals that use or purchase environmentally friendly products. Citizens will now have points or an environmental credit score that will then be used to determine the possibilities of being accepted into certain areas such as university admissions and job hiring.
Impact of the Environment Credit Scoring System
This program will be a way to push individuals to become more environmentally conscious. Inevitably, the demand for environmentally friendly products is expected to skyrocket after its implementation. Thus, product and service providers will also have the reinforcement of shifting their businesses towards a greener approach.
The blocked-chain backed ECCS will also allow verifiers to enroll with the ECCS in creating a product declaration. Providers will be able to create a report on how their product or service impacts the environment throughout its life cycle.
The Environmental Credit Scoring System (ECSS) has provided solutions to ensure that claims made by companies are accurate about their product’s environmental impact. This includes using a more reliable creation of environmental product declarations and strengthening the credibility of verifiers. Verifiers have also the chance to earn by performing verification activities.
Overall, the ECCS is going to be the tool that will empower both consumers and business owners to leave lesser carbon footprints and ultimately fix environmental problems.