With Environmental, Social, Governance a key topic in the boardroom and with reporting becoming ever complex, the need to accurately manage emissions is a top priority for many companies.
Identifying the data needed to measure, report and verify emissions not only from a company’s own operations but also their supply chains, can be very complex. Gathering this data and ensuring its accuracy for reporting presents a real challenge, which is why technical engineering consultancy Vysus Group and enterprise data sharing platform Siccar joined forces to develop an end-to-end solution to help ease the burden.
Energy Transition Databox combines Vysus’ world-class engineering expertise and Siccar’s secure data sharing technology, providing an unprecedented level of accuracy for tracking direct and indirect emissions, efficiently and securely. Clients can calculate, report and verifiably demonstrate emissions based on trusted data, and use analytics and insights to shape their future business.
Plugging in Siccar’s platform – based on distributed ledger technology – enables clients and approved third parties to share encrypted emissions data via tamperproof transactions, creating a single source of truth and a verifiable chain of custody. Data can be shared safely, with enforced security by design. Clients benefit from Vysus’ status as a fully licensed AA 1000 assurance provider, supporting the verification of sustainability reports, disclosures and public statements.
The Databox team is currently in the final stages of pilot projects with several major global operators and services companies across the energy sector.
Vysus and Siccar have produced an animation which explains the challenge and solution, which can be viewed here.
The team is hosting an interactive event – Lunchtime Learning Byte – at Offshore Europe on Tuesday 5th September. The session will take place in the Scottish Development International Learning Zone (Hall 2, Block E), with lunch available from 12pm and the presentation from 12.30-1pm. Anyone interested in finding out more is very welcome.
For more information, visit https://www.vysusgroup.com/services/risk-management/energy-transition-databox.
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