Palantir and Trafigura Collaborate to Develop Supply Chain Carbon Emissions Tracking Platform
Trafigura, a leading commodity trading company, and Palantir Technologies, a company that specialises in big data analytics, today announced the development of a technology services platform for carbon emissions calculation, reporting, and collaboration across commodity supply chains.
Participants from across the global energy and commodities supply chains can use a consortium method to model lifecycle carbon intensities and collaborate for better visibility and reporting.
The platform intends to make emissions from commodity production, transformation, and transportation more transparent across the supply chain.
Participants will be able to better understand their indirect operations' lifetime emissions, benchmark against other participants, and explore options for reduced carbon paths.
Palantir will be the first company to bring carbon emissions tracking to market with a partner. Palantir's Foundry operating system will be configured to provide consortium partners with an accurate calculation of carbon intensity across supply chains, beginning with crude oil and refined products, concentrates, and refined metals, leveraging Trafigura's expertise in global commodity supply chains.
Trafigura and Palantir have been working together for the past year, and the initial pilot has already developed scenarios across ten million carbon pathways utilising actualised commodity shipments by combining Trafigura data and metrics with third-party data.
Jeremy Weir, Trafigura’s Executive Chairman and CEO, said:
"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.”
Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies Inc, commented:
"The collective action required to address many of our most pressing global challenges requires more than resolve or a shift in political priorities. It requires a shared understanding of the facts based on data. We have built software platforms that deliver that shared understanding by enabling institutions across entire industries and sectors to collaborate and model the world in which they operate.”