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Blockchain Can Trace Carbon Emissions for Mining, Metals Companies, Proof of Concept Released
The World Economic Forum’s Mining and Metals Blockchain Initiative (“MMBI”), released a proof of concept that uses distributed ledger technology to track embedded greenhouse gas emissions.
A collaboration between seven leading industry players and the World Economic Forum, the initiative has hit an important stage of development following its launch in October 2019.
The successful completion of the proof of concept, named the COT, a Carbon Tracing Platform will be critical in helping to ensure traceability of emissions from mine to the final product. With a focus on end-to-end traceability, the COT platform uses distributed ledger technology to track CO2 emissions.
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Releases proof of concept Carbon Tracing Platform that uses distributed ledger technology to track CO2 emissions
The World Economic Forum’s Mining and Metals Blockchain Initiative has released a proof of concept that uses distributed ledger technology to track embedded greenhouse gas emissions.
The initiative in collaboration between seven leading industry players and the World Economic Forum has hit an important stage of development since its launch in October 2019.
The successful completion of the proof of concept Carbon Tracing Platform (COT) will be critical for traceability of emissions from mine to the final product.
World Economic Forum tests blockchain technology for tracking carbon emissions
Shipping coal by train at Glencore s Prodeco coal project in Colombia. Credit: Glencore.
The World Economic Forum (WEF) has completed the initial stage of a blockchain platform for tracking embedded greenhouse gas (GHG) emissions across the mining industry’s value chain.
The WEF’s Mining and Metals Blockchain Initiative (MMBI) released a proof of concept called the Carbon Tracing Platform (COT) to help mining companies trace emissions from mine to final product, the WEF announced in a Dec. 15 press release.
Most estimates of the carbon footprint of the mining industry’s value chain are currently based on industry benchmarks or non-standard unverifiable sensors, says Jorgen Sandstrom, WEF’s head of mining and metals.
Blockchain Can Trace Carbon Emissions for Mining, Metals Companies, Proof of Concept Released
Amanda Russo, Public Engagement, World Economic Forum, +41 79392 6898 [email protected]
The World Economic Forum s Mining and Metals Blockchain Initiative has released a unique proof of concept to trace emissions across the value chain using distributed ledger technology
The initiative is a collaboration between seven global companies and the World Economic Forum that aims to accelerate an industry solution for supply chain visibility and ESG requirements
The proof of concept was developed in collaboration with industry experts to test the technical feasibility of the idea.
Geneva, Switzerland, 15 December 2020 - The World Economic Forum s Mining and Metals Blockchain Initiative ( MMBI ), released a proof of concept that uses distributed ledger technology to track embedded greenhouse gas emissions.