UK group Clarksons’ carbon broking team has forged a new alliance to boost its emissions accounting operation.
The London-listed shipbroker said the new partnership with compatriot CarbonChain will allow it to offer an automated solution to clients in the heaviest emitting industries.
“With soaring emissions from shipping and growing carbon regulation, logistics companies are exposed to high levels of risk and opportunity, including legislation, legal risks, increased costs, and growing demand for low-carbon transportation,” the company said.
The carbon broking team aims to help users make cleaner, faster, data-driven decisions.
“The new partnership with CarbonChain will further enhance this offering,” the company added.
The CarbonChain platform offers automated supply chain carbon accounting for companies, traders, financiers and logistics firms in sectors like metals and minerals, oil and gas, and agriculture.
The technology enables users to track progress and utilise the data for target-setting and automated reporting, in turn helping tackle risk, reduce emissions, and accelerate the transition to a net-zero economy.
This differs from “broad-based estimates” in that CarbonChain promises “granular, accurate, and actionable insights,” Clarksons said.
The system is powered by artificial intelligence.
Emissions can be tracked over time through monitoring of consignments and ships.
Duncan Lyall, head of carbon broking at Clarksons, said: “Carbon legislation has arrived, and we are already seeing it drive increased compliance requirements and costs for our clients.”
Just the beginning
“Likewise mandatory climate disclosure is also now in action, the impact of which is already being seen with carbon pricing expectations for 2030 increasing by 400% since the EU increased its emissions-cutting goals,” he added.
Lyall said this is just the beginning in the global drive to mitigate climate change.
Adam Hearne, chief executive of CarbonChain, was previously a senior programme manager for Amazon’s European supply chain.
Before that, he spent 12 years at the global mining firm Rio Tinto.
He said: “We are a team of engineers and sales leaders dedicated to tackling the world’s largest sources of carbon emissions by automating emissions accounting in a truly critical era.”
“CarbonChain already has considerable experience working with leading companies in the commodities and shipping industries and we look forward to supporting more clients via our partnership with Clarksons,” Hearne added.
