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The European Union’s Corporate Sustainability Reporting Directive or “CSRD” came into effect on January 5, 2023 and eligible businesses will have to apply the new rules for the first time in the 2024 financial year. This is a massive undertaking for any business, but especially within the supply chain world, due to the sheer number of companies and interoperability involved.
Going forward, businesses must also prepare for the EU Data Strategy coming into effect in September 2025, an even larger undertaking.
To help EU businesses operate within the existing and upcoming EU directives, software development company mintBlue provides blockchain-based solutions for accurate and transparent sustainability reporting.
CoinGeek spoke with mintBlue CEO Niels van den Bergh to learn more about the directives, mintBlue’s compliance solutions, and a glimpse into a world where services are put on a public blockchain.
Becky Liggero: Thank you so much for joining me today, Niels. Let’s begin with the EU Data Strategy and explain why companies should start taking notice of this right now.
Niels van den Bergh: Businesses must prepare for the EU Data Strategy by September 12, 2025. With just 20 months to go, companies need to start preparing NOW. This strategy aims to create a unified market for data that’s accessible, interoperable, and reusable across the EU.
Big players like Google (NASDAQ: GOOGL), Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Meta (NASDAQ: META) often lock away data. The new strategy changes this, putting control back in the hands of users. This is urgent and crucial because it protects users’ data in our digital world, boosts innovation, and enhances data security—areas where the current system falls short.
Small and medium-sized enterprises (SMEs) will benefit significantly from this change, gaining fair access to valuable data. For example, a small blockchain startup like ours can compete on a level playing field, using this open data to innovate and grow. This strategy gives power back to the people, ensuring that data is not monopolized by a few giants but is available for everyone to use and benefit from.
Many perceive this as cumbersome and stupid regulation, while the EU is trying to learn how to handle data in our digital economy, and this is the starting point.
Businesses need to act now to stay competitive and compliant. The clock is ticking, and the benefits of getting ahead are worth it.
Becky Liggero: Thank you for that. Let’s zero in on CSRD, which is already in effect. What is it, and why is it such a massive undertaking for EU companies?
Niels van den Bergh: The Corporate Sustainability Reporting Directive (CSRD) is a new regulation that requires large companies and some SMEs to provide standardized sustainability reports. This means they must share detailed information about their environmental, social, and governance (ESG) practices. It’s a big task because it involves collecting and reporting a lot of data under stringent standards.
Many big brands share their sustainability reports and “green” initiatives, but there’s usually no way to verify whether they’re telling the truth. This can lead to greenwashing, where companies make themselves look more eco-friendly than they really are. The CSRD tackles this by enforcing strict reporting standards and making sure sustainability claims are backed by real, verifiable data.
Becky Liggero: How can mintBlue help companies with CSRD? How does your solution work?
Niels van den Bergh: mintBlue helps companies with CSRD by providing blockchain-based solutions for accurate and transparent sustainability reporting. Our technology tracks emissions in real-time, ensures data integrity, and verifies compliance with sustainability standards. We enable companies to securely share and exchange information without losing control, this is key in creating interoperability in the supply chain and exchanging data required for reporting.
For example, IKEA could use blockchain technology to track sustainability metrics across its supply chain, from raw materials to the final product. Each step recorded on the blockchain would provide a transparent and unchangeable record, simplifying compliance with CSRD.
Businesses can use decentralized technology to meet CSRD requirements and enhance transparency and stakeholder trust. While it’s a big shift, the benefits of increased transparency and trust are substantial.
Becky Liggero: To help tackle their CSRD-related requests, you’ve created a solution for logistics enablement platform DockFlow—how did this partnership come about, and what problems are you solving for them?
Niels van den Bergh: Our partnership with DockFlow emerged from a shared vision to boost logistics sustainability. Dockflow was getting requests on compliance with CSRD, and they wanted to be sure carbon calculations were done correctly and transparently. mintBlue could integrate the carbon calculator with the Dockflow client via Dockflow and transparently show how each container is calculated separately, giving granular control and insight.
Imagine manually documenting every step in the supply chain—it’s a massive headache with too many steps. DockFlow needed a better way to handle this, and we provided the answer. Our solution offers real-time monitoring and verifiable compliance, making it easy for DockFlow and its clients to meet strict sustainability requirements and improve their environmental impact.
Becky Liggero: Amazing. Aside from the supply chain, what are some of the other use cases for your CSRD solution?
Niels van den Bergh: Beyond the supply chain, our CSRD solution applies to various sectors, such as manufacturing, retail, and finance. Our decentralized solutions can benefit any industry requiring accurate ESG reporting, notarization, and verifiable certificates. For example, manufacturers can track the environmental impact of their production processes, retailers can ensure ethical sourcing, and financial institutions can verify the sustainability of their investments.
A successful pilot with the Dutch Tax Authority showcases how our solution can be used in other industries. We set up a blockchain system that links bookkeeping software and POS devices to an encrypted ledger, allowing real-time tax reporting. This pilot boosted accuracy, reduced paperwork, and ensured data integrity.
For instance, business owners could instantly share transaction data with the tax office, removing the need for quarterly submissions. The Dutch Tax Authority’s slogan, “We can’t make it more fun, but we can make it easier,” perfectly describes this technology.
The same technology can be used for CSRD, allowing real-time tracking of environmental impacts and transparent, verifiable sustainability reporting. Public institutions can use this method to keep accurate records, build trust, and ensure compliance, making the process simpler for everyone involved.
Becky Liggero: Zooming out to the bigger picture, why should companies consider putting their services on the public blockchain?
Niels van den Bergh: We live in a time where proof is crucial. People must verify whether an image is real or if AI-generated data is accurate.
Using the public blockchain ensures transparency, security, and immutability of data. It builds trust with stakeholders by providing a verifiable record of transactions and activities. This simplifies compliance with regulations and can boost operational efficiency by providing a single source of truth. Public blockchains also democratize data access, preventing monopolies and ensuring a fairer ecosystem.
Blockchain’s advanced security protects against data breaches while automating processes, reducing paperwork, and cutting costs. While blockchain may not make sense to the everyday person or get the best rep, it’s undoubtedly here to stay. It is the next iteration of how the internet will function, and the adoption of it on an industry-wide level, as well as in governments, will be implemented into our daily lives without us even knowing it.
Becky Liggero: Incredibly insightful as always, Niels—is there anything else that you would like to add?
Niels van den Bergh: We understand the frustration with misinformation, AI, data breaches, privacy violations, and big tech’s misuse of data. Companies often ask us to just “take their word for it” when they claim their sustainability initiatives, a.k.a, greenwashing us. These are real problems we face today. But there is a solution, and CSRD is just the beginning. At mintBlue, we believe in the power of transparency and data integrity to drive positive change.
We believe companies should stop simply telling stories and start proving them. We can no longer trust what we see and take it at face value.
Imagine a world where users have control over how their data is used and monitored, smaller companies have a fair shot at growth, and standard compliance is within everyone’s reach. That’s the world we’re building at mintBlue. Built on a foundation of trust, accountability, and transparency.
Becky Liggero: Brilliantly stated. Thank you so much, Niels, and keep up the amazing work at mintBlue!
Watch: Introducing The New Sustainability Reporting Solution – mintBlue & Dockflow team up together
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