CarbonChain's methodology receives third-party verification

Published on
October 12, 2022
By
Carbon Accounting
CarbonChain's methodology receives third-party verification

CarbonChain is proud to have received third-party verification for its carbon accounting methodology.

Two world leaders in testing, inspection and certification services (TIC), Bureau Veritas and SGS, have each independently reviewed our latest methodology (v0.94). Bureau Veritas has verified it, and SGS has validated it, as aligned with global carbon accounting standards (specifically, the GHG Protocol). 

Why is verification important?

Companies and financial institutions who use CarbonChain's platform to measure and track their commodity trading carbon footprints need to know that their emissions are calculated using a third-party verified methodology and that CarbonChain's tool is grounded in best practice. This is an important marker of credibility for internal and external emissions reporting1

CarbonChain's commitment to accuracy

At CarbonChain, we're committed to unbiased, credible carbon accounting that's highly accurate and auditable. That's why we're proud to receive third-party verification for the methodology that powers our automated carbon accounting platform.

Verification improves the transparency and consistency of our calculations, and therefore of customers' ongoing emissions tracking and decarbonization efforts. 

In addition to verification, we're frequently reviewing and improving our methods. For example, our third-party verified methodology is also being reviewed independently by GHD to ensure it's as robust as possible. 

Supply chain (scope 3) carbon accounting is renowned to be the most challenging. With this verification, customers can be confident that CarbonChain provides commodity supply chain carbon footprinting using a methodology that they and their stakeholders can trust, under increased scrutiny of poor carbon accounting and greenwashing. 

Who can use CarbonChain? 

CarbonChain provides the entire commodities value chain with carbon intelligence for the net-zero transition. Using machine learning, we automate our customers' supply chain carbon accounting, so they can tackle risks, reduce emissions, and accelerate the transition to the net-zero economy. 

CarbonChain's platform is used by the likes of Societe Generale, Rabobank, Concord Resources, IXM and Gunvor (view our case studies here).

We use activity-based methodologies (instead of economy-based), and source-level data to provide accurate CO2e calculations at the asset level, and a precise carbon footprint for the whole commodity trade flow. 

1 For the avoidance of doubt: the verification and validation specified do not cover any specific activity, or any input or output data. No specific customer-level or activity-level emissions report is itself third-party verified or validated. Rather, CarbonChain's methodology and platform used to calculate commodity supply chain emissions (oil and gas, or metals and minerals) is verified and validated as aligned with the relevant global standards for carbon accounting.

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Jessica Boekhoff
Written by
Jessica Boekhoff
Expert Carbon Specialist

Need help measuring your Scope 3 emissions for your reporting? Get in touch with CarbonChain today.

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