WEF: Key role of technology in global carbon management efforts
With decarbonisation initiatives on the rise among the world's major economies, carbon management solutions are vital for countries and companies to work towards their emissions reduction and climate targets.
As part of the carbon management process, organisations will need to accurately measure and report their carbon footprint, set a robust abatement strategy, and monitor progress of set targets. While the process can be complex and time-consuming, new technological advances such as artificial intelligence (AI) and the Internet of Things (IoT) can be a driving force in addressing some of the common challenges associated with carbon management.
A recent article from the World Economic Forum (WEF), contributed by Envision Digital examines how Artificial intelligence of things (AIoT) solutions can be utilised to make carbon management more efficient, transparent, and effective:
- Integrating AIoT into measurement and reporting: For organisations that need to gather and monitor data across diverse carbon-producing assets, AIoT integration can enable seamless sourcing of real-time data across multiple systems. This provides an efficient way in collecting and transforming data, thus reducing laborious data collection processes and enhancing data quality.
- Leveraging predictive analytics in abatement planning: Identifying key sources of emissions can be a challenge due to the lack of accurate measures for determining the emissions derived from certain processes. By creating insights from real-time data to better predict process emissions, AIoT technology can help organisations optimise their abatement strategies.
- Supporting carbon offsetting: While considered an option of last resort, the carbon offset market plays a key role in achieving emissions reduction goals. Technology can support the validation of renewable energy certificates (RECs) in near real-time and offer a marketplace for affordable and fast carbon offsetting.
Read the full article to learn more about how AIoT technologies can help governments and corporations to actively manage and reduce carbon emissions.