Palantir Technologies, Inc., announced that it is building a technology services platform for calculating, reporting, and working together on carbon emissions across commodity supply chains.
A consortium method can be used by participants from across the global energy and commodities supply chains to model lifecycle carbon intensities and collaborate for greater visibility and reporting. The platform aims to increase transparency across the supply chain by tracking emissions from commodity production, transformation, and transportation. Because of this, participants will be able to better understand their indirect operations' lifetime emissions, benchmark against other participants, and identify prospects for reduced carbon routes because of this.
Palantir will be the first company to bring carbon emissions tracking to the market with a partner. Palantir's Foundry operating system will be set up to give consortium partners an accurate calculation of carbon intensity across supply chains, starting with crude oil and refined products, concentrates, and refined metals, using Trafigura's expertise in global commodity supply chains.
Palantir and Trafigura have already built scenarios across ten million carbon pathways using actual commodity shipments by combining Trafigura data and metrics with third-party data. The initial pilot has already built scenarios across ten million carbon pathways using actual commodity shipments by combining Trafigura data and metrics with third-party data.
"Our customers are increasingly asking us for visibility into the lifecycle emissions of the commodities we move as they prepare for regulated Scope 3 emissions reporting and more generally for Net Zero. The complexity involved in commodity supply chains requires robust cooperation across the industry and a technological solution that can enable meaningful decisions and change. We are delighted to jointly deliver a solution to the market with Palantir, whose technology can manage the complexity and data security required to provide additional services to our customers and the market."
-Trafigura's Executive Chairman and CEO, Jeremy Weir