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- Publisher Website: 10.35490/EC3.2023.235
- Scopus: eid_2-s2.0-85177209421
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Conference Paper: A blockchain-based token economic model for incentivizing ESG in the construction industry
| Title | A blockchain-based token economic model for incentivizing ESG in the construction industry |
|---|---|
| Authors | |
| Issue Date | 12-Jul-2023 |
| Abstract | The existing Environmental, Social, and Governance (ESG) frameworks lack transparency and consistency in reporting and can introduce extra costs to the industry. This study proposes a blockchain-based token economic model to incentive construction companies for their ESG performance and addresses the issues of transparency. The model is expected to: (i) offer a novel transparent way for regulators to recognize the industry’s ESG performance, (ii) incentivize companies with authentic and attractive rewards to improve their ESG performance, and (iii) collectively promote sustainable construction practices for ESG goals. A thought experiment is presented for the case of Hong Kong’s construction industry. |
| Persistent Identifier | http://hdl.handle.net/10722/344271 |
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Zhao, Rui | - |
| dc.contributor.author | Wang, Jiajia | - |
| dc.contributor.author | Xue, Fan | - |
| dc.date.accessioned | 2024-07-16T03:42:09Z | - |
| dc.date.available | 2024-07-16T03:42:09Z | - |
| dc.date.issued | 2023-07-12 | - |
| dc.identifier.uri | http://hdl.handle.net/10722/344271 | - |
| dc.description.abstract | <p> <span>The existing Environmental, Social, and Governance (ESG) frameworks lack transparency and consistency in reporting and can introduce extra costs to the industry. This study proposes a blockchain-based token economic model to incentive construction companies for their ESG performance and addresses the issues of transparency. The model is expected to: (i) offer a novel transparent way for regulators to recognize the industry’s ESG performance, (ii) incentivize companies with authentic and attractive rewards to improve their ESG performance, and (iii) collectively promote sustainable construction practices for ESG goals. A thought experiment is presented for the case of Hong Kong’s construction industry.</span> <br></p> | - |
| dc.language | eng | - |
| dc.relation.ispartof | 2023 European Conference on Computing in Construction and the 40th International CIB W78 Conference (09/07/2023-13/07/2023, Heraklioin, Crete) | - |
| dc.title | A blockchain-based token economic model for incentivizing ESG in the construction industry | - |
| dc.type | Conference_Paper | - |
| dc.description.nature | published_or_final_version | - |
| dc.identifier.doi | 10.35490/EC3.2023.235 | - |
| dc.identifier.scopus | eid_2-s2.0-85177209421 | - |