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FuelTrust collaborates with BlockApps to upgrade capabilities in TraceCarbon Network

16 Sep 2021

Technology company FuelTrust on Wednesday (15 September) announced a partnership with blockchain app developer, BlockApps, after its recent launch of Bunker Insights, to provide advanced capabilities to their TraceCarbon Network. 

The partnership will provide sustainable traceability for the CO2 ecosystem, enabling compliance and transparency across the entire fuel lifecycle, it states.

The need for decarbonisation and Environmental Social Governance (ESG) is becoming increasingly vital for today’s shipping industry, says FuelTrust. 

With new regulations accelerating the energy transition by shifting from fossil fuels to clean, low-carbon energy, there is increasing pressure for the industry to become more transparent when tracing and tracking CO2 emissions.

With FuelTrust Bunker Insights, TraceCarbon customers gain access and visibility to their own emissions and efficiency performance, as well as those of their downstream customers.

The development enhances the value of TraceCarbon by validating CO2 declarations and helping TraceCarbon customers discover, understand, and proactively improve their overall Class 1, 2, and 3 emission results. 

This enables customers to improve their ESG outcomes, reduce carbon tax liabilities, and meet their corporate environmental commitments.

“FuelTrust brings added intelligence to the TraceCarbon Network by generating exacting CO2 data for our customers using existing transaction information,” said John Chappell, BlockApps Director of Business Development – Energy. 

“This allows them to validate CO2 declarations using advanced AI and Blockchain technologies – all integrated in TraceCarbon – for maximum value to our network customers.”

Related: FuelTrust launches Bunker Insights app to deliver transparency in the marine fuel chain

 

Photo credit: FuelTrust
Published: 16 September, 2021

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