Commodity trading firm Trafigura has announced that it is partnering with Palantir Technologies to develop a technology services platform for carbon emissions calculation, reporting and collaboration across commodity supply chains.
The goal of the platform is to increase transparency in emissions from the production, transformation and transportation of commodities across the supply chain, to allow participants to better understand lifecycle emissions related to their indirect operations and benchmark against other participants.
Palantir’s Foundry operating system will be adapted and configured for the project using Trafigura’s supply chain expertise, to provide a calculation of carbon intensity across supply chains, beginning with crude oil and refined products, and concentrates and refined metals.
This announcement builds on work already done over the past year by the two companies, with an initial pilot already having built scenarios across ten million carbon pathways using actualised commodity shipments by integrating Trafigura data and metrics supplemented by 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,” said Jeremy Weir, Trafigura’s Executive Chairman and CEO.
“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 market with Palantir, whose technology can manage the complexity and data security required to provide additional services to our customers and the market.”