As countries strive to achieve their national greenhouse gas emissions objectives in a cost-effective manner, an increasing number of carbon pricing regulations are being adopted. The impending entry into force of the EU Carbon Border Adjustment Mechanism (CBAM) represents a significant milestone in the carbon pricing landscape and has the potential to accelerate this trend.
For many businesses, the introduction of these regulations poses new risks associated with their carbon footprint. As explained in our latest publication, calculating the exposure to carbon pricing is vital for businesses as they strategize their greenhouse gas emissions management.
Nonetheless, if the underlying emissions data lacks reliability or granularity, the utility and advantage of carbon pricing intelligence will be undermined. This is where Climate TRACE — a global non-profit coalition which has entered into a new partnership with Carbon Glance – comes into play. They use satellite imagery and other forms of remote sensing, artificial intelligence, and collective data science expertise to track human-caused GHG emissions. Besides reporting national and sector-level emissions data, they provide granular source-level information on more than 80,000 of the largest individual emitting sites across multiple sectors and industries.
By leveraging technology to provide carbon pricing intelligence to businesses, Carbon Glance goes beyond emissions data to help companies measure the true cost of their greenhouse gas emissions. Hence, gaining access to reliable, frequent, and granular greenhouse gas emissions data is paramount.
As part of this collaboration, Carbon Glance will explore how it can harness Climate TRACE’s publicly available data to offer companies enhanced carbon pricing intelligence and support them in adopting data-driven actions to mitigate their emissions.
Additionally, Carbon Glance aims to demonstrate how Climate TRACE’s data can be applied in the context of the new EU Carbon Border Adjustment Mechanism (CBAM), aiding businesses to fulfil the new data needs introduced by this new policy.