Multinational commodity trading company Trafigura announced a new carbon emissions platform for supply chains, created in collaboration with American software company Palantir, according to a press release.
The joint project was announced last week at the APPEC 2023 held in Singapore, in an effort to improve transparency in data in emerging carbon industries, Reuters reports.
The carbon emissions platform now includes users from the oil and gas industry too, after it was initially designed for the metallurgy industry.
“Agora is already enabling Trafigura to quickly respond to our metals customers requesting carbon intensity of deliveries using third-party data, and we are delighted to now extend this initiative with our supply chain partners in the energy markets,” said Trafigura’s oil trade co-head, Ben Luckock.
“We believe that carbon intensity as a commodity specification can enable greater visibility of low carbon alternatives,” Luckock added.
According to the joint statement, the first meeting of the advisory committee for the Agora for Energy platform was held in person during APPEC 2023, and it was currently being formed by the involved parties. The advisory committee’s initial focus would be on looking into possibilities for industry standardization of carbon intensity reporting and producing reputable reporting standards that Agora might use as a means of increased transparency and comparability.
“We are pleased Palantir and the first customers of Agora for Energy see the value of S&P Global Commodity Insights’ independent carbon intensity measures and the insights they advance in energy transition, and we are delighted they have selected us to be the exclusive energy data provider to their platform,” said Philippe Frangules, Head of Gas, Power & Climate Solutions, S&P Global Commodity Insights.
By utilizing the features of Palantir’s Foundry platform in flexible data integration and safe data sharing, the Agora platform enables customers to connect primary data and industry emissions data to comprehend end-to-end commodities supply chain carbon emissions.
Agora for Energy enables active communication between supply chain parties about carbon emissions data exchange and data receipt, lessens administrative complexity, and enhances supply chain transparency with regard to overall carbon intensity. Simulating the financial effects of carbon pricing systems on supply chain decisions, it also makes it possible to evaluate alternate supply chain routes.
