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CarbonChain integrates with Quor’s Fintrade CTRM for seamless trade lifecycle carbon tracking

24 April, 2023 

New Fintrade API will enable physical commodities traders to track emissions and manage carbon risk across the supply chain, using CarbonChain’s accurate carbon accounting.

CarbonChain, an AI-fueled carbon accounting platform using granular data to provide end-to-end visibility into the carbon footprint of supply chains, announces a new API integration with Quor’s Fintrade platform, a leading advanced CTRM solution for metals and agricultural commodities traders. 

Over 50% of the world’s greenhouse gas emissions come from the global physical commodities market. These trade flows are facing tightening carbon regulation, as well as growing demand from customers and banks for emissions disclosure.

The new integration between Quor’s Fintrade and CarbonChain will enable commodity traders to embed carbon intelligence into the management of their trading activities. The API will automatically sync trade portfolio information from Fintrade to CarbonChain for comprehensive emissions calculations, with breakdowns by trade, product or trade finance provider.

Barry Gould, Group CIO/CTO at Concord Resources Limited, said:

“To accelerate business performance and resilience in a rapidly-changing market, we use both Fintrade and CarbonChain every day. This integration will save time and remove the burden of collecting, extracting and uploading data between the two platforms.

As Concord works to drive industry transparency on emissions and meet carbon-intensity KPIs linked to trade finance facilities, we’re excited for the real-time insights we’ll gain about the carbon risks and footprint of our metals trades.”

Carbon accounting needs to be accurate and comprehensive in order to be useful for decision-makers, but over 90% of companies are doing it incorrectly and over 50% are not measuring Scope 3 (supply chain) emissions, despite impending regulatory requirements. In complex trade supply chains, the first challenge is getting high-quality, complete and consistent input data to map the full trade lifecycle. This information can now be fed directly and seamlessly from a trader’s Fintrade platform into their CarbonChain platform, where robust calculations take place, using CarbonChain’s verified carbon accounting methodology and an independent emissions database covering over 135,000 supply chain assets. 

Roheet Shah, COO at CarbonChain, said:

“For so many leading commodities traders, Fintrade is fundamental to their day-to-day activities and integral to their strategic decision-making around risk, profit maximization and cost control. This API brings together the power of the Fintrade software with CarbonChain’s accurate carbon insights across the trade lifecycle, from source to shipment and beyond.”

Tasja Botha, CEO at Quor Group, said:

“The integration between Fintrade and CarbonChain is the first of many. We understand our customers need real-time insights into their data, so as to help them achieve their ESG initiatives, as well as maximize their profits and control their costs.”

About Quor and Fintrade

Quor provides trading, risk, and logistics management software solutions to the global market. The Quor mission is to empower market participants to trade confidently, profitably, and sustainably today and in the future. Quor’s Fintrade supports the end-to-end commodity trading process. The solution helps companies to comply with ESG goals by providing transparency on the trade life cycle from the sourcing of raw materials to delivery to end customers. 

About CarbonChain

CarbonChain empowers companies to make climate-conscious decisions to accelerate action toward a net-zero economy. Its AI-powered carbon accounting platform automates emissions tracking with accurate, granular, asset-level data for carbon-intensive supply chains, including metals, mining and manufacturing. CarbonChain’s methodology V0.94 has been validated by SGS and verified by Bureau Veritas for manufacturers, commodity traders, financiers and freight firms to unlock unrivaled insight into carbon-related risks and opportunities in near real-time. Founded in 2019, CarbonChain is a CDP-accredited solutions provider, a Task Force on Climate-Related Financial Disclosures (TCFD) supporter and a proud member of ResponsibleSteel. CarbonChain is supported by the UK government’s innovation arm (Innovate UK) and was part of the Y Combinator Summer 2020 cohort. 

About Concord Resources Limited

Founded in 2015, Concord is a global resources merchant focused on the supply chain, financing and risk management of non-ferrous metals and related raw materials, led by an experienced and entrepreneurial management team. Its team works with resource producers and consumers on spot transactions out to multi-year, structured agreements. Concord’s capabilities include global sourcing, marketing and management of all the required logistics and finance to optimise its clients’ supply chains from long-term partnership marketing arrangements to single container deliveries. Concord brings substantial cross-commodity, structuring and asset optimisation experience of its founding team to work for the benefit of its customers and partners. 

Get in touch with the CarbonChain team to learn more.