AI for End-To-End Carbon Accounting and Management
KEY INFORMATION
Infocomm - Artificial Intelligence
TECHNOLOGY OVERVIEW
As governments and financial institutions take bold steps to reduce their impact on the environment, organisations of all shapes and sizes face immense pressure to accelerate their sustainability journey and reduce their carbon footprint. Most organisations currently rely on consultants and spreadsheets to calculate their carboon footprint using data that is up to a year old.
This technology offer is an Artificial Intelligence (AI)-powered Software-as-a-Service (SaaS) platform that integrates with key enterprise IT systems and other platforms to obtain live activity data across the value chain. The technology is applicable across industries and provides better visibility into the organisation’s footprint and reduces the time required to generate disclosure report by up to 90%.
The technology owner is looking for partners and collaborators in the Energy, Oil & Gas, Manufacturing, and Logistics industries to conduct pilot projects and further develop the niche industry requirements of the products.
TECHNOLOGY FEATURES & SPECIFICATIONS
This technology offer consists of a SaaS platform that has the following features:
- Carbon accounting in line with Greenhouse Gas (GHG) protocol (Scope 1, 2 and 3)
- Offset marketplace
- ESG goal setting in line with UN sustainable development goals
- Forecasting and target setting in line with science-based target initiative
- Compliance and performance reporting on demand
- Realtime dashboard
- Integration with 3rd party systems for data collection
- AI recommendation system for abatement measures
POTENTIAL APPLICATIONS
The use of this technology is applicable to any and all industries that are required to account and disclose GHG emissions, or for organisations that are participating in voluntary disclosure. The platform can be used for the following applications (not exhaustive):
- Generating Carbon Disclosure Project (CDP), Sustainable Accounting Standards Board (SASB) and Task Force on Climate-related Financial Disclosures (TCFD) reports
- Realtime monitoring of carbon footprint
- Creating sustainability playbook
- Purchasing carbon credits to offset residual emissions
- Reduce overall carbon footprint through automated recommendations
Market Trends & Opportunities
The global carbon management market is expected to exceed USD 15B by the year 2025 and will continue to grow at CAGR of 25%. This growth is driven by a few factors:
- Regulatory pressure from governments
- Public relations and brand image for organisations
- Customers/consumers demand sustainable products and solutions
The opportunities in the market for a platform that streamlines ESG compliance, reporting, and emission reduction is expected to increase greatly as more governments impose mandatory requirements and regulations.
Unique Value Proposition
- Up to 90% less overhead for reporting
- Use of live data instead of year old data
- Accurate, actionable datapoints
- Multiple reporting frameworks from one source
- Built-In audit capabilities
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