Helping Governments and Businesses Manage and Monetize Their GHG-Reduction Data
Governments and businesses around the world are pledging to drastically reduce greenhouse gas (GHG) emissions by 2050. Doing so will require a clear understanding of current (or baseline) emissions and the ability to clearly demonstrate and quantify emissions reductions over time. Addressing climate change is therefore a major data management challenge.
Data challenges associated with emissions management include:
- Lost revenues due to data error, gaps and inefficiencies
- Managing data originating from diverse, dispersed sources
- Cumbersome and error-prone manual data processes
- Ensuring traceability and auditability for verifiable reductions
- Monitoring real-time performance and detecting anomalies
- Inventorying and monitoring dispersed emissions sources
How can governments and businesses ensure regulatory compliance while realizing the economic opportunities related to GHG emissions? Capturing the full value of emissions reduction investment requires a flexible, integrated GHG data aggregation, calculation and monitoring platform. CarbonAi Solutions is just such a platform.
CarbonAi: World-leading GHG Reduction, Monetization
CarbonAi is a world-leading provider of fully integrated carbon reduction and monetization infrastructure. Based in Calgary and Dubai, the company offers two related GHG-reduction services. CarbonAi Projects provides full-cycle GHG project services. CarbonAi Projects provides full-cycle GHG project services, from
project finance, design and construction to the quantification, verification and sale of emission reduction credits (ERCs). CarbonAi Solutions is a cloud-based platform for the aggregation and processing of GHG emissions reduction data.
CarbonAi Solutions: Integrated Emissions Data Platform
CarbonAi Solutions is a proprietary software platform that aggregates data from diverse, geographically dispersed emissions sources and automates the processing of that data for a number of compliance and commercial purposes, including measurement, reporting and verification (MRV). The software underlying Solutions has integrated over 12,500 methane-emitting devices, managed over 1.5 million files in 13 countries and supported the verification of over 3.1 million tonnes of CO2 reductions, reducing verification data error (and related costs) from 7 percent to less than 1 percent. Solutions offers three distinct but related use cases: Crediting, DMRV and Inventory.
CarbonAi Crediting Engine
CarbonAi Crediting Engine automates real-time emissions data aggregation from diverse, geographically dispersed devices in a number of project types, such as oil and gas and renewable energy. Solutions streamlines the validation, quantification, verification and registration of ERCs. It replaces cumbersome, error- and manipulation-prone manual practices with digital processes that can automate the calculation of GHG reductions against compliance and voluntary protocols for different project types, jurisdictions, and markets. This gives project stakeholders tremendous flexibility, drastically streamlining the MRV and credit registration processes.
Digital Monitoring, Reporting and Verification
Scaling markets to achieve the GHG reductions needed to meet the targets of the Paris Agreement will require eliminating bottlenecks caused by cumbersome conventional validation, verification, registration and credit transfer processes, all while ensuring the traceability and auditability of claimed reductions. Solutions DMRV creates new efficiencies in MRV for many project types by automating the aggregation and processing of data according to voluntary and compliance protocols while meeting global standards of verification. To date, the platform supporting Solutions has supported the successful verification of over 3.1 million tonnes of compliance-level ERCs.
Solutions Inventory Tracking
Governments and businesses may face compliance and economic risk due to emissions sources that are not identified, quantified or monitored. CarbonAi Solutions offers a dynamic, customizable dashboard that allows organizations to inventory GHG emissions from numerous, geographically dispersed sources. CarbonAi’s inventory tracking capability allows companies and regulators to identify and monitor large-scale sources of GHG emission, such as flare gas installations, on an ongoing basis, avoiding lost revenues due to GHG emissions and/or operational issues that might otherwise be untracked.
Resolving the “First Mile” Data Problem
Gaps in project data can result in serious verification, regulatory and commercial risk. The CarbonAi Tasks™ tool resolves this by automating human workflow management, allowing for the easy assignment, tracking and verification of field tasks, such as inspections and repairs. Tasks™ enables field teams to gather data from remote devices using audit-worthy means like geolocation/geotagging and API connections. In GHG reduction projects, Tasks™ allows project developers to clearly demonstrate that the data used to claim reductions in remote GHG-emitting devices, effectively closing the “first-mile” data gap.
Project Monitoring, Forecasting and Portfolio Management
The Solutions Crediting platform includes a dynamic, highly customizable dashboard that allows companies to track current emissions and forecast future emissions and revenues and alerts companies of anomalous performance. This can identify performance issues that, if left unattended, could result in material increases in GHG emissions and lost revenues.
Ongoing monitoring, tracking and forecasting of emissions performance can be crucial for project economics, off-taker assurance and minimizing verification risk. It ensures continuous proof of performance, eliminating potential data gaps during which emissions reductions activities might not be provable. It can also reduce costs and risks associated with site visits for project personnel and verifiers.
The Crediting dashboard also allows organizations to monitor and manage individual assets or their portfolio of GHG-reduction projects on an ongoing, real-time basis, allowing them to track progress against compliance obligations and forecast future GHG performance to optimize the value of their GHG portfolio.