Context Labs has recently been featured in a Gartner research piece entitled, “Truth in Supply Chain; 3 Case Studies on how Blockchain, AI & IoT are Shedding Light.” Avivah Litan, author and Distinguished VP Analyst at Gartner, highlights work that Spherical|Analytics, a Context Labs company, developed with the Environmental Defense Fund (EDF).
Featured on slides 23 to 29 of the attached presentation, Gartner’s work focuses on EDF’s Environmental Data Initiative targeting their greenhouse gas (GHG) monitoring platforms in the states of Pennsylvania and New Mexico. EDF’s objective being to:
- Reduce tax and income revenue lost to unnecessary flaring
- Improve the health of the planet by providing reliable data for measuring Net-Zero Carbon goals
- Improve trust in Oil and Gas greenhouse emissions data by transforming and contextualizing raw data using AI and cryptographically securing them on an immutable ledger
The research draws out the main challenges facing the oil and gas industry, particularly the unreliability of reported data and the harmful impacts of methane and greenhouse gas flaring on the environment, local population, and an organization’s bottom line. Context Labs imbues trust into that data by transforming and securing it as ‘Asset-Grade-Data’ before highlighting the important analytical outputs. As with all Context Labs platforms, these solutions were built using the Immutably™ enterprise data fabric powered by all-source ingestion, multipoint cryptographic proofing, and provenanced asset tracking that is all underpinned by an immutable distributed ledger.
Avivah succinctly wraps up the report with the increasingly popular conclusion that private investment will be the driving force behind ESG-related corporate compliance. The report highlights major actors such as BlackRock impressing upon companies the importance of disclosure beyond compliance to meet global net-zero goals by 2050.
Context Labs continues to advance its work by providing trusted data for GHG emissions monitoring applications by going beyond strictly these platforms. Through our strategic partnership with RMI, we have built the Climate Action Engine, the next evolution in oil and gas operations and emissions monitoring initially targeted at Texas and with plans to expand coverage globally. We have also established the Climate Accounting Infrastructure with the leading global accounting firm KPMG for both the oil and gas industry and enterprise real estate.
Gartner is the world’s leading research and advisory company and a member of the S&P 500. They equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow.