The Problem
The high cost of manual emissions reporting and the risk of inaccurate data are major challenges facing industrial operations today.
The High Cost of Manual Emissions Reporting
Time-Intensive Processes
Most industrial facilities still rely on manual processes to track and report their emissions. This approach is not only time-intensive but also prone to human error. According to industry reports, companies spend an average of 20,000 hours annually on manual emissions calculations and reporting.
Complex Data Sources
These manual processes often involve multiple data sources, spreadsheets, and complex calculations that must be verified by third-party auditors. The entire process can take weeks or even months, delaying compliance reporting and increasing operational costs.
Risk and Reputational Damage of Inaccurate Data
Greenwashing Accusations
Inaccurate emissions data can lead to serious consequences, including regulatory fines, loss of investor confidence, and accusations of greenwashing. In 2022, several companies faced significant reputational damage and legal challenges due to discrepancies in their reported emissions data.
Undermining Carbon Markets
The lack of data integrity also undermines the entire carbon credit system. If companies cannot trust the data underlying carbon credits, the entire market becomes less effective at driving real emissions reductions.
Fragmentation of Data Sources
Disconnected Systems
Industrial facilities typically have emissions data scattered across multiple systems: PLCs, SCADA systems, CEMS, ERP systems, and spreadsheets. This fragmentation makes it difficult to get a complete, accurate picture of emissions in real-time.
Integration Challenges
Data from different sources often use different formats and protocols, requiring manual integration and reconciliation. This process is not only inefficient but also introduces opportunities for errors to occur.
Challenges in Producing Credit-Quality Data
Verification Requirements
Carbon registries and traders require data that meets strict standards for verification and auditability. Most existing systems cannot produce this level of data quality without extensive manual verification processes.
Data Disputes
The lack of immutable, time-stamped records means that data can be questioned or disputed months or years later. This uncertainty undermines the value of carbon credits and increases the cost of verification.
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