There isn’t much use for a decent retirement if the world is practically unhabitable by the time you retire.
And at Holon, we believe that the technological advances of Web 3.0, or more simply the digitisation of the world, can be progressive developments, with positive results for the planet and its inhabitants. Filecoin is currently the largest distributed data storage network in the world, with a presence on all continents through more than 4000 Storage Providers.
As part of that mission, last month Holon released – at the Paris Blockchain Summit no less – its inaugural Filecoin ESG Report. It is the culmination of an extensive period of research, investigation – and introspection.
The goals for the Filecoin ESG report – like most of what we do at Holon – are lofty. It sets out a challenge, not only to ourselves, but to the entire Web 3.0 ecosystem, that it is, despite conventional thinking around Web 3.0 and cryptocurrencies, very possible to be climate positive, socially responsible and have strict governance – all while being successful in business.
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ESG simply refers to a firm’s commitment to do more than make a profit; to actively strive to contribute positively to the environment or social causes and to conduct themselves responsibly. It’s an idea whose time has truly come, and even the most cynical among us cannot disagree that it is consumer pressure – people power – at work. The masses have been demanding it, and now the sheer economic stakes have caused big business to act.
The world is facing many ESG challenges, not least our use of energy and its impact on the climate. Data storage consumes 2% of the world’s energy today, and sustainable energy use in data storage will be a key factor in combating climate change.
Holon recognises its duty to behave responsibly in its business activities and towards the entities its actions affect. A high standard of business conduct and a commitment to effective ESG policy makes good business sense.
In short, our ESG objectives are:
1. To be regarded as a sound ESG business, actively managing ESG risks.
2. Have a positive impact on climate change as a Filecoin Storage Provider.
The report is the first of its kind for the Web 3.0 space (and despite its size) can be broken down into a few easy pieces (E, S & G). In short, it provides the ESG position for Holon’s Filecoin Storage Provider operations.
In terms of Environmental, there’s something quite different when it comes to Holon’s Filecoin ESG report, and the idea of ESG in the Web 3.0 world. It has everything to do with some of the major value propositions of all of Web 3.0: the publicly verifiable nature of all transactions and data.
There’s no hiding and no “greenwashing” – a relatively new term, and what ASIC considers as, ‘the practice of misrepresenting the extent to which a financial product or investment strategy is environmentally friendly, sustainable or ethical.’
There’s no dodgy ‘dolphin safe’ tuna equivalent in Web 3.0. There’s no 100% Florida orange juice made in Mexico.
As we roll out our environmental goals, including contributing to the 2025 Filecoin Green pledge (more on that later), and investing in renewable energy infrastructure in Australia, we will make that information publicly available.
With near real-time reporting and monitoring, anyone will be able to follow the emissions Holon Filecoin Storage Provider operations generates. Our strategy is to work towards net zero by sourcing renewable energy rather than offset with carbon credits, there is a big difference.
We have started with renewable energy infrastructure partner, MyGreenerPlanet and will continue to invest in green solutions as we scale, tracking emissions through Filecoin Green.
Under Social, the Filecoin network has been designed to promote decentralization of control and amplify the diversity of product offering, geographic distribution and storage use cases, as well as fostering and incentivising open participation globally.
We see so much work that can be done to correct the inherent power imbalance with our own data. If you google search the term “new shoes” right now, you’ll see what we mean.
Filecoin will contribute to disrupting the surveillance capitalism business model which is embedded in the systems we work, play and live on, that takes our behavioural data to modify our behaviours towards their own commercial outcomes.
With Holon commercialising a decentralised data storage solution – Filecoin – in this region, it helps restore balance to issues including data sovereignty, data persistence, censorship, and the efficiency benefits of storage optimised closer to the source.
As for Governance, it may be the least fancy of the three, but as pioneers in the Filecoin data storage area, Holon sees its importance, putting us in a unique position. We are committed to taking a lead, to set an example to deliver positive investment outcomes.
The Filecoin ecosystem governance is a form of “expressive representation”, decision making is via various community consensus forums and Filecoin. Holon is also a Filecoin Notary, a role which adds a layer of trust between clients and Storage Providers. Several process and commercialisation improvements raised by Holon have already been adopted by the governance community.
As a large Storage Provider active participation is a demonstration of effective stewardship, and the best way to protect our investors’ investments.
The report formalises our pledge to conduct business ethically, and to maintain good corporate governance, compliance and risk management practices.
The next steps: What we do with this ESG position is what matters
This is clearly not a banking, manufacturing or automotive ESG report. The Filecoin data storage system is one of the most significant Web 3.0 technologies that will underpin the next generation of the internet.
The Holon Filecoin ESG report is unique in illustrating the collaboration between business (Filecoin) and investor (Holon) to drive and deliver positive ESG outcomes paired with traditional business goals.
So the gauntlet has been officially thrown down to our Web 3.0 colleagues, partners and competitors. As you can see, for us it’s more than just a report. Consider it a How-To Guide, for good, responsible business – and maybe even that decent retirement.
Disclaimer: Holon Global Innovations Pty Ltd (ACN 635 014 756) is a Filecoin (FIL) Storage Provider and is positioned as a major player in the FIL decentralised data storage arena for Asia Pacific. FIL Storage Providers are rewarded in FIL for the provision of data storage capacity.