(Bloomberg) -- Trafigura Group, one of the world’s largest commodity trading houses, is building a carbon emissions tracing platform with data services provider Palantir Technologies Inc.
The platform will allow commodity market participants, including Trafigura customers, to track, model and forecast supply-chain emissions as they come under increasing pressure from investors to do more about scope 3 emissions, the carbon they indirectly generate. The initial focus will be on emissions relating to oil and metals, with industrial consumers starting to pay a premium for low-carbon versions of aluminum products made with renewable energy.
“Our customers are increasingly asking us for visibility into the life-cycle emissions of the commodities we move as they prepare for regulated Scope 3 emissions reporting and more generally for net zero,” Trafigura Chief Executive Officer Jeremy Weir said in a statement.
The platform is also the first move by Palantir, a US technology company co-founded by Peter Thiel, into tracking carbon emissions. The firm has previously has offered big-data solutions to US intelligence agencies, the UK’s NHS and Amazon Web Services.
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