Saudi Arabian SABIC petrochemical manufacturer launches blockchain project to trace their carbon footprint

Saudi Arabian SABIC petrochemical manufacturer launches blockchain project to trace their carbon footprint

Saudi based SABIC, one of the world’s largest petrochemicals manufacturers has launched a blockchain pilot project to trace the carbon footprint of specific material streams from end to end. SABIC will work with Circularise, a blockchain software provider.

According to SABIC release, blockchain technology has emerged as a potentially efficient solution to improve the process that can bolster transparency and accountability while minimizing risk across supply chains.

SABIC’s project will employ Circularise’s technology to capture emissions across the value chain by deploying a consistent methodological and reporting framework accepted by the industry. Scope 1 and Scope 2 data captured at the material level can be used to generate Scope 3 CO2 emissions for the full value chain of targeted industries.

In addition to increased transparency, the use of Circularise’s Smart Questioning technology will benefit SABIC’s entire value chain by reducing the administrative efforts associated with the data collection and providing access to upstream and downstream data provided by value chain participants, from recyclers to converters to original equipment manufacturers, among others. 

“This blockchain pilot project reaffirms SABIC’s dedication to accelerating the sustainable transformation of our industry through strategic partnerships and innovative new technologies,” said Waleed Al-Shalfan, Vice President of Polymers Technology & Innovation at SABIC. “Accurately mapping emissions, especially Scope 3 emissions, will allow SABIC and others to identify and minimize hot spots along the value chain, a critical tool in our pathways to decarbonization. We encourage other upstream and downstream partners to join and consider how this technology can unlock sustainable growth at every level moving forward.”

“We’re proud to collaborate with SABIC in tackling the pivotal challenges of Scope 1, 2, and 3 emissions accounting, which encompass issues like information accessibility, confidentiality, and scalability of data sharing among suppliers,” said Mesbah Sabur, Founder of Circularise. “As part of this project, Circularise aims to pilot blockchain-powered digital product passports and help businesses to track product emissions on a large scale and over time, generating comprehensive product life cycle emission reports.” 

This project marks another way in which SABIC is leveraging innovative partnerships to reduce emissions and help meet its commitment of becoming carbon neutral by 2050. Earlier this year, SABIC joined Together for Sustainability (TfS), a procurement-driven initiative created by chemical companies with the goal of assessing, auditing, and improving sustainability practices within their supply chains. As a member of TfS, SABIC will foster collaboration around increasing transparency in upstream value chains to support further reductions in Scope 3 greenhouse emissions. 

This collaboration with Circularise also marks SABIC’s second blockchain application project. Last year, SABIC launched a pilot project with Finboot, Plastic Energy, and Intraplás to evaluate the use of blockchain technology in supporting end-to-end digital traceability of circular feedstock in customer products.

UAE oil giant pilots Blockchain platform to certify carbon utilization

UAE oil giant pilots Blockchain platform to certify carbon utilization

UAE oil giant ADNOC ( Abu Dhabi Oil Company) is piloting a blockchain platform that will show how much CO2 was used to make products such as Murban crude ammonia, and aviation fuels. The pilot will be in cooperation with Siemens Energy AG. 

Using smart sensor data gathered from across ADNOC’s operational chain, from oil to customer, CO2 utilization will be recorded onto a decentralized blockchain ledger. As per the press release, such transparency will allow independent regulators to certify the carbon intensity of products. It will also give customers greater confidence and clarity over the carbon footprint of their purchases.

Abdulmunim Saif Al Kindy, Executive Director, People, Technology & Corporate Support Directorate at ADNOC, said: “People typically associate blockchain technology with crypto currencies, but the use of decentralized ledgers has significant implications for the energy industry. This pilot promises to shine a digital spotlight into our manufacturing processes. It will show the world why energy supplied by ADNOC is among the least carbon intensive in the oil and gas industry.”

The low-carbon energy certificate initiative forms part of a broader memorandum of understanding between ADNOC and Siemens Energy. Under the agreement, specialists from both companies will co-create technologies to accelerate decarbonization and the transition to clean energy. 

Dr. Fahad Al Yafei, Chief Technology Officer, Siemens Energy Middle East, said: “By leveraging our unique knowledge and expertise of certificates of sustainability, Siemens Energy will work with ADNOC to develop solutions for the benefit of the energy industry. Investing in innovation and the co-creation of technologies are vital tools for reducing emissions and meeting Net Zero targets.”

The agreement was signed by Sophie Hildebrand, Chief Technology Officer, ADNOC and Dr. Al Yafei.

Back in 2018 ADNOC had announced its successful collaboration with IBM, piloting a Blockchain-based automated system to integrate oil and gas production across the full value chain. The  system provided a secure platform for the tracking, validating and execution of transactions at every stage, from production well to the end customer.  

In 2020, ADNOC announce that its Panorama Digital Command Center (Panorama)  generated over $1 billion (AED 3.67 billion) in business value since its inception in 2018. Panorama was a key part of ADNOC’s ongoing strategic investments in digitization, blockchain and artificial intelligence (AI) to enable the company to drive greater efficiencies, optimize performance, and respond to complex market dynamics with agility and speed.

UAE AmanaSolar selects Blockchain Hedera Network CarbonCore solution

UAE AmanaSolar selects Blockchain Hedera Network CarbonCore solution

UAE Amana Solar has selected to work with KrypC, a global technology company automating carbon offset creation and distribution utilizing  CarbonCore, a solution running on the carbon-negative Hedera network that aims to make carbon trading markets more reliable, efficient, and inclusive.

CarbonCore stores, tracks and distributes carbon credits, and acts as an end-to-end carbon offset marketplace where industrial supply and demand meet. The application can be integrated with existing platforms to allow carbon emitters to easily purchase carbon offsets, and enables environmental projects to provide carbon credits to the market through a streamlined tokenization and minting process.

Amana Solar, a global leader in the installation of rooftop solar power, will work with KrypC and CarbonCore to develop advanced, highly granular Renewable Energy Credits (RECs), enabling the efficient tracking and offsetting of carbon emissions. Their critical strategic goal for the partnership is to utilize the CarbonCore market to issue their own Renewable Energy Certificates (RECs).

Riad Bsaibes, president and CEO of Amana Investments, said: “Amana is passionate about bringing efficient solar energy to our customers, and with the help of CarbonCore, we can go even farther. CarbonCore has streamlined the process of tokenizing carbon offsets, and we look forward to entering the fast-growing Web3 space to bring further innovation to the regional solar energy market.”

Ravi Jagannathan, Founder and CEO at KrypC, said: “A key part of KrypC’s mission is to help industry leaders like Amana and other enterprise customers of KrypC by building, deploying, and managing innovative distributed ledger solutions. CarbonCore, built on the Hedera network, is a ledger for creating the trust chain for the underlying VCUs/VERs/iRECs. By onboarding Amana and other enterprises to CarbonCore, we help large enterprises to go even further in their ESG journey to confidently offset, decarbonize and make a lasting impact on the global climate challenge.”

CarbonCore has been funded through a partnership with the HBAR Foundation’s Sustainable Impact Fund, created to provide funding for various Hedera-based solutions centered on environmental sustainability. KrypC’s decentralized architecture has capabilities for building tokenized assets markets on the network, significantly reducing the time for projects and developers to build on top of the network.

Wes Geisenberger, Vice President of the HBAR Foundation, said: “The HBAR Foundation Sustainable Impact Fund was created with a strategic goal of fostering transparency and accountability in environmental markets. We are excited to support the new partnerships that CarbonCore is building with Amana, and their customers, who have a wealth of knowledge in the industry. We are excited that KrypC and Amana share our values in bringing the balance sheet of our planet to the public ledger.”

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Etihad Airways beats Emirates and Qatar Airlines with the launch of NFT collection on Polygon

Etihad Airways beats Emirates and Qatar Airlines with the launch of NFT collection on Polygon

While Emirates Airlines was the first to speak about the launch of NFTs, metaverse and so forth, and Qatar airlines followed with its own metaverse initiative with talk about NFTs to be included, it was Etihad Airline who actually will be launching its own NFT collection on Polygon in July 2022.

Under the name EY-ZERO1, UAE Etihad airlines will be launching the utility-driven NFT series features of ten highly detailed 3D aircraft models, each one showcasing a unique Etihad Airways Boeing 787 Dreamliner livery. The NFT Collection will encompass a total of 2003 limited edition collectibles, symbolizing the year when Etihad Airways was established. The NFT Collection will go on sale at 6pm UAE time on 21st of July. The collectibles include Etihad’s Manchester City FC and Greenliner-themed aircraft, among others.

“We’re excited to launch our first NFT collection, EY-ZERO1, which not only offers collectors, aviation enthusiasts and travelers a unique work of art, but provides real-world travel and lifestyle benefits with Etihad Airways. NFTs and other metaverse technologies are revolutionizing the digital economy, and we are proud to be one of the first airlines in the world to explore their potential to provide additional utility for our customers” , said Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group.

Purchasing an NFT will give owners immediate Etihad Guest Silver tier membership for one year, with 10 lucky NFT holders winning complimentary flight tickets with Etihad. NFT owners will also be given advance access to upcoming NFT collections as well as future metaverse products which the airline has planned as part of its Web3 strategy.

To celebrate the new collection, Etihad will be giving away 20 NFTs to people who pre-register on etihad.com/zero1 by 16 July. Each NFT will be priced at US$349 plus tax on etihad.arcube.io, and the sale will close on 18 August at 6pm UAE time.

The NFTs will also be available to purchase through the Etihad Guest Reward Shop, meaning the airline’s 7 million loyalty program members can redeem their Etihad Guest Miles to acquire an NFT.

EY-ZERO1 is set to be minted on Polygon blockchain, and Etihad Airways will be partnering with Aerial.is to track the CO2 emissions of the NFTs. In addition to offsetting the entire carbon footprint of the project, the airline will allocate all proceeds from the collection to purchase sustainable aviation fuel in 2022.

“As well as recognizing the artistic value of our aircraft liveries, our NFT collection has been designed to be as efficient as possible and support our wider sustainability and decarbonization efforts at Etihad Airways,” said  Douglas.