i4Trust – Data Spaces for effective and trusted data sharing
www.i4trust.org
Blockchain4ESG 
Blockchain-powered platform for ESG data 
and risk management

Blockchain4ESG - i4Trust Impact Story 
    2 
Smart AgriFood, Sustainable Value Chains, Green Finance 
Blockchain4ESG: blockchain-powered platform for 
ESG data and risk management 
With the contribution of: 
 IoT Digital Innovation Hub (Spain) 
482.solutions (Ukraine, Singapore)
Ukrainian Scale Company (Ukraine) 
Smart Power Engineering (Ukraine)

Blockchain4ESG - i4Trust Impact Story   
    3 
 
 
 
         FIW Consulting (Spain) 
 
 
          Rancho Guareña (Spain) 
 
 
 
Challenge & Context 
The imminent challenge: our climate is in crisis. 
From corner offices to living rooms, the world stands at an epochal moment, 
feeling the very ground shift beneath due to climate change. It isn’t just about 
melting glaciers or the rising tides; it’s about an ecosystem deeply intertwined 
with our socio-economic fabric that’s unraveling. The price tag for inaction? An 
astonishing $54 to $69 trillion of potential climate-related damage (IPCC report, 
p. 264). 
The call to arms has never been clearer. Pioneering initiatives like the EU Green 
Deal shine a torchlight on our collective path forward, envisioning a climate-
neutral Europe by 2050. Similar commitments reverberate globally, evidenced 
by national Green Plans and Strategies. Yet, the scale and complexity of climate-
related risks threaten to overshadow our good intentions, especially in critical 
sectors like the Food and Agriculture industry. 
The significance of the Food and Agriculture sector. 
The Food and Agriculture sector contributes 4% to the global GDP, 1.3% to the 
EU’s GDP, and creates about 44 million jobs in the EU. The industry now faces 
challenges from extreme weather events, impacting crop yields and increasing 
production costs. Alongside these, other concerns include changing 
precipitation patterns, water scarcity, and soil erosion. 
However, these challenges also pave the way for innovations. With the rise in 
demand for sustainable products and advancements in technology like AI and 
Blockchain, there is potential for the industry to evolve and enhance its 
sustainability.

Blockchain4ESG - i4Trust Impact Story 
    4 
The importance of reliable ESG data. 
To make informed decisions, transparent and reliable Environmental, Social, and
Governance (ESG) data, particularly related to climate, is essential. The current 
lack of consistent ESG disclosures limits understanding and decision-making. 
These disclosures are crucial for stakeholders and financial institutions to 
manage ESG risks and to channel investments towards a sustainable future. 
Introducing Blockchain4ESG. 
The “Blockchain4ESG” experiment aims to bridge this data gap. Through the 
development of ESG.Electrodo, we aim to create a reliable ESG data 
management and matchmaking platform, supporting the Agri-Food Industry's 
transition to a more sustainable future. The choices made now are crucial for 
future resilience and sustainability. Through collaboration, innovation, and data-
driven insights, we can chart a sustainable course. 
Solution 
ESG.Electrodo: bridging the information gap. 
In response to this pressing need, under the Blockchain4ESG experiment we 
have developed ESG.Electrodo. ESG.Electrodo is a data brokerage platform for 
ESG data management and reporting that drives and accelerates the transition 
of industrial SMEs in Agri-food to a low-carbon economy, as well as creating and 
fostering an ESG data market. ESG.Electrodo solves the problem of ESG data 
availability, completeness, integrity, and reliability for climate-related risk 
assessment and management, as well as contributes to the resilience and 
sustainability of the Agri-food industry. 
1. For industrial SMEs. It acts as a data management and matchmaking platform.
SMEs can access ESG data management tools, providing insights for enhanced
decision-making and risk management. Furthermore, it elevates their visibility
amongst ESG investors, positioning them better to attract sustainable capital.
The platform also empowers SMEs to benchmark their ESG performance against
industry standards, facilitating continuous growth and compliance.
2. For ESG Investors and Funds. ESG.Electrodo transforms into an asset
management marketplace. Investors are presented with a streamlined portal

Blockchain4ESG - i4Trust Impact Story   
    5 
where they can access a range of ESG data and insights, crucial for making 
informed investment decisions. It also aids in matchmaking, connecting 
investors with vetted industrial SMEs that align with their investment criteria and 
risk profiles. This ensures that the investment is not just profitable, but also 
sustainable in the long run. 
By serving as a bridge between industrial SMEs and ESG investors, 
ESG.Electrodo is "sewing" the two vital threads of industrial and investment 
capital into a single, cohesive fabric. 
ESG.Electrodo Innovation. 
Harnessing the power of Blockchain technology, the platform provides ESG data 
security, integrity, and reliability. This becomes even more paramount as 
ESG.Electrodo integrates both internal and external data sources. Everything 
from corporate documents, public ESG reports, benchmarks, and guidelines are 
meticulously curated, offering a comprehensive overview of ESG data. 
Furthermore, ESG.Electrodo is not just a standalone platform, but includes the 
tools for collaboration. Expansion plans focusing on building ecosystem with 
industrial clusters, amplifying the platform's reach and impact. 
Aligning with the EU's Corporate Sustainability Reporting Directive (CSRD). 
A key advantage of ESG.Electrodo is its alignment with the European Union's 
Corporate Sustainability Reporting Directive (CSRD). The CSRD is poised to 
reshape how sustainability information is reported by companies within the 
European Union. It emphasizes the need for more detailed ESG reporting, 
extending these obligations to a broader range of companies, including SMEs. 
For SMEs, ESG.Electrodo simplifies this process. By providing access to 
comprehensive ESG data, it enables SMEs to adhere seamlessly to CSRD 
mandates, streamlining the often-intricate process of sustainability reporting. 
This is invaluable, ensuring compliance while also enhancing their appeal to ESG-
centric investors. 
The solution aligns with the central objectives of the European Green Deal, 
specifically the strategy for financing the transition to a sustainable economy. 
Additionally, it supports the COP26 goals, with a particular focus on Goal 3: 
Mobilising Finance and the associated Taskforce on Access to Climate Finance.

Blockchain4ESG - i4Trust Impact Story   
    6 
ESG.Electrodo Collaboration. 
Our key industrial partners are the Ukrainian Cluster Alliance, which includes 60 
clusters and cluster-type associations, and NOSC-UA DIH, the Virtual Center for 
Digital Innovation of Kyiv Academic University of the National Academy of 
Sciences of Ukraine. Within the framework of our partnership, we plan to 
collaborate in the implementation and scaling of ESG.Electrodo platform 
solutions for industrial clusters as ESG Data Hub, establishing ESG data 
exchange chains, and developing Climatech solutions for industrial clusters and 
SMEs in the Agri-food and other industries.  
Our product is a participant in the Microsoft for Startups program, and we 
collaborate with the Microsoft Innovation Center for Sustainability Solutions 
after Electrodo became a semi-finalist in the Singapore GreenTech Challenge. 
 
How it works  
Technical overview of ESG.Electrodo. 
The aim of the experiment is to develop a blockchain-powered context broker 
and the ESG.Electrodo application for ESG data processing and management. 
This will serve as the core of a trusted digital ecosystem for ESG data exchange 
between stakeholders in the sustainable Agri-Food value chain (refer to the 
simplified version of the value chain in Fig. 1). Within this ecosystem, value is 
created and shared, with careful attention to ESG (environmental, social, and 
governance) considerations. 
 
Figure 1: Participants (stakeholders) of Agri-Food value chain

Blockchain4ESG - i4Trust Impact Story   
    7 
ESG.Electrodo is a platform that bridges the data gap between SMEs and ESG-
focused investors. It is underpinned by an intricate infrastructure that is 
designed for scalability, security, and accuracy. 
Incorporation of FIWARE technologies. 
In the Blockchain4ESG experiment (Fig. 2), FIW Consulting introduced the FIW 
IoTHub, a telemetry data management application utilizing FIWARE technologies 
for connection to smart devices. This application, which processes telemetry 
data like smart meter readings, leverages the iSHARE component for data 
verification, ensuring trusted and secure data exchanges, and incorporates the 
ESG.Electrodo data notarization service. 
Using the FIW IoTHub, FIW Consulting collates data from various sources, such 
as Rancho Guareña's internal ERP. This data is then forwarded to the 
ESG.Electrodo app via the FIWARE Orion-LD Context Broker. Secure 
communication between ESG.Electrodo and FIW IoTHub is facilitated by 
Keyrock's IdM services. 
Similarly, Smart Power Engineering uses the SPE IoTHub to monitor resources 
and share this data with the ESG.Electrodo app, aiding Ukrainian Scale Company 
in evaluating Scope 3 GHG emissions.  
With ESG.Electrodo, Rancho Guareña can: 
1. Examine and evaluate ESG data, inclusive of datasets from the supplier 
Ukrainian Scale Company. 
2. Share this data for ESG risk evaluations. 
ESG.Electrodo then provides Rancho Guareña with an ESG risk assessment and 
a comprehensive report in accordance with TCFD standards. Rancho Guareña 
can then share this with the ESG Fund. 
Furthermore, the ESG Fund employs ESG.Electrodo for processing ESG 
disclosures from its industrial clientele. The ESG Fund also uses the tool for its 
own ESG disclosures, aligning with PRI policies. 
Regarding i4Trust Marketplace, ESG.Electrodo acts as a dependable ESG data 
provider. All components related to identity and authorization management are 
combined in Keyrock. Separate instances of this identity manager are essential 
for each participating entity.

Blockchain4ESG - i4Trust Impact Story   
    8 
Blockchain implementation with Hyperledger Fabric. 
A critical challenge with ESG reporting is ensuring its authenticity. Each ESG 
report, once uploaded onto ESG.Electrodo, undergoes notarisation using the 
blockchain-module Electrodo.Docs (based on Hyperledger Fabric and IPFS)  to 
establish an added layer of trust for all platform users so: once a ESG report is 
notarised, it cannot be altered without leaving an auditable trail; investors and 
other stakeholders can verify the authenticity of the ESG report, knowing it 
hasn’t been tampered with post-notarisation. 
 
 
Figure 2: Data space for ESG data and risk management.  
Architecture of Blockchain4ESG experiment

Blockchain4ESG - i4Trust Impact Story   
    9 
The Data Space of Blockchain4ESG (Fig.2) can accelerate the development of 
new services for ESG climate-related data and risk management in the 
Sustainable Agri-food sector. This is achieved by promoting ESG data sharing, 
collaboration, standardization, and innovation. We view industrial clusters, which 
include ESG data providers, SMEs, and investors, as key members of the ESG 
Data Space. 
Throughout the development and deployment phases, a few crucial key findings 
emerged. 
1. Interoperability is crucial. Building a data-management platform that 
integrates several technologies and data sources taught us the importance of 
ensuring seamless interoperability. Every component, from FIWARE tools to 
Hyperledger Fabric, needed to operate in tandem and orchestrate various data 
sources. 
2. Security and privacy are paramount. Managing sensitive ESG data meant that 
every possible security loophole needed to be addressed. Keyrock and iSHARE 
played an indispensable role here, but custom security infrastructure-level 
protocols were also developed to enhance trusted data management. 
3. Continuous evolution. The ESG landscape and, coupled with technological and 
regulation advancements, is always evolving. The platform, hence, should be 
built with adaptability in mind, ensuring that future iterations can easily 
incorporate new functionalities. 
 
Benefits & Impact 
In the modern age, where the tangible effects of climate change are becoming 
increasingly prevalent, the role of industrial SMEs, especially in the Agri-Food 
sector, has never been more significant. The ESG.Electrodo service creates the 
collaborative synergy to redefine sustainable practices across industrial value 
chains. 
1. User growth. Considering the growing emphasis on sustainable business 
practices and the looming importance of ESG compliance, the platform 
expects to quadruple its user base within the next few years.

Blockchain4ESG - i4Trust Impact Story   
    10 
2. Customer acquisition. Within the next six months, we’ll plan to onboard 3 
industrial clusters with dozens of SMEs and a few ESG investors/funds. So, 
we’re not just expanding our user base but fostering a more comprehensive 
ESG data space and ecosystem. 
3. Economic impact. A crucial outcome of the ESG.Electrodo service is its 
potential to significantly bolster sales and revenues of involved SMEs. By 
aligning their operations with ESG benchmarks and showcasing their 
commitment to sustainability, SMEs can tap into the growing market of 
conscious consumers and responsible investors. Their ESG compliance can 
serve as a differentiator, allowing them to command premium pricing, expand 
into newer markets, and appeal to a broader audience. This alignment, 
combined with operational efficiencies, can lead to an estimated sales and 
revenue growth of up to 40%. As a proof of the experiment's scaling success, 
the Ukrainian Scale Company conducted its first Ukraine-Spain export of 
industrial scaling equipment to Rancho Guareña, a mixed dairy farm and 
agricultural crop supplier in Spain. 
4. Societal and macro-economic impact. The ESG.Electrodo service's 
relevance can't be overstated. For SMEs, it translates into a framework that 
optimizes processes, aligns with ESG mandates, and offers a competitive 
edge in the ESG-centric consumer and capital markets. On a macro level, 
cities and regions stand to cultivate a progressive, sustainable industrial 
environment, resulting in economic stabilization and growth. 
 
Added value through i4Trust  
i4Trust, as a technological ecosystem has: 
1) Provided new knowledge and high-level expert support in the field of 
engineering the data management applications and Data Spaces; 
2) Offered coaching on building data-driven business models through 
mentorship sessions using DDI Canvas and Business Model Canvas;

Blockchain4ESG - i4Trust Impact Story   
    11 
3) Created opportunities for the development of technological solution 
ESG.Electrodo, in collaboration with consortium members and in partnership 
with DIHs. 
One of the landmark achievements of this experiment has been the first Ukraine-
Spain export of customised industrial scaling equipment from Ukrainian Scale 
Company to Rancho Guareña. This outcome illustrates the tangible value 
generated through data-driven ESG innovations - specifically in fostering 
sustainable value chains and launching value-added products. 
i4Trust technologies have proven to be a lynchpin for the development of our 
solutions. i4Trust tech stack including FIWARE and iSHARE offers a 
comprehensive set of functionalities, ranging from architectural blueprints to 
data lifecycle management protocols. This gives i4Trust the unique capability of 
supporting standardized and flexible mechanisms, such as IAM, Standard Data 
Models, and Data Exchange APIs. Moreover, the alignment of i4Trust 
technologies with the digital infrastructure of CEF (Connecting Europe Facility) 
amplifies its value as the technology standard for data-driven digital innovations. 
Next steps 
Building on the success of the Blockchain4ESG experiment and the 
ESG.Electrodo solution, our next steps are multi-faceted and focus on scaling 
both vertically within targeted sectors and horizontally across new markets and 
regions. 
1. ESG Data Hub for Industrial clusters. The next phase will see ESG.Electrodo 
functioning as an ESG data hub for industrial clusters. The platform will assist 
in the seamless implementation of ESG strategies, data management, 
performance tracking, and target-setting. 
2. Marketplace and asset management platform for ESG Investors and Funds. 
We aim to enhance ESG.Electrodo to serve ESG investors and funds more 
effectively. The next version of platform will offer streamlined access to 
comprehensive ESG data, enabling informed investment decisions including. 
a. Matchmaking capabilities. Connect investors with pre-qualified industrial 
SMEs that align with their investment criteria and risk profiles.

Blockchain4ESG - i4Trust Impact Story   
    12 
b. Portfolio oversight. Tools for real-time monitoring and management of 
ESG performance and associated risks. 
c. Investment discovery. A curated pipeline of high-impact, high-potential 
ESG investment opportunities. 
3. Cross-sector and international scaling. Our cross-sector scaling plans 
include venturing into Smart Transportation sectors such as Food Delivery 
and Agriculture e-Mobility. The geographical scope will extend to Europe, 
Singapore, and other ASEAN countries. 
 
References 
● Building the European Cluster Economy with i4Trust technology. 
● Guideline on Trusted ESG Data Management for Agri-Food. 
Authors & Contributors 
● Roman Kravchenko, CEO of 482.solutions, roman@482.solutions 
● Leonid Khatskevych, CBDO of 482.solutions, leonid@482.solutions 
Categories 
Users:  
Rancho Guareña (Spain, Agri-food),  
Ukrainian Scale Company (Ukraine, Machinery and equipment manufacturing).

Blockchain4ESG - i4Trust Impact Story   
    13 
Key words:  
Sustainability, ESG, Blockchain, ESG Reporting, Climate-related risks, Climate 
action, Industry 5.0, Green Finance, Sustainable Value Chains, Industrial SMEs, 
Industrial Clusters, Corporate Sustainability Reporting Directive, Sustainable 
Development Goals, European Green Deal. 
 
 
Disclaimer: In accordance with our Guidelines concerning the use of endorsements and 
Impact Stories in advertising, please be aware of the following: Impact Stories appearing 
on the i4Trust site and partner’s site or in other digital or printed materials. It is possible 
to hand in text, audio or video submissions. They are individual experiences, reflecting 
real life experiences of those who have used our technology and/or services in some 
way or another. We do not claim that they are typical results that customers will 
generally achieve. i4Trust partner’s reserves the right to revise the contents, make them 
shorter and adapt them as required.

i4Trust – Data Spaces for effective and trusted data sharing
www.i4trust.org
Blockchain4ESG 
Blockchain-powered platform for ESG data
and risk management
Founding Partners
Do you have questions or want to know more?
i4Trust has received funding from the European Union’s 
Horizon 2020 research and innovation programme 
under the Grant Agreement no 951975.
CONTACT US