popular articles

Would Blockchain Solve Global Warming?

blockchai energy

Please share:

Blockchain could be the key to effective tracking of carbon emissions throughout the supply chain. This solution could prove useful in a context of global warming. Energy systems are currently aiming for decarbonization. Promoting transparency will be key to ensuring that entities in the global supply chain comply with the new emissions standards. So the supply chain could have a role to play.

How do you measure a product’s environmental impact?

Take into account all stages of a product’s life cycle

There has been much debate about how to assess whether a product is truly sustainable. But is it enough to look at the emissions of the company that sells it to the end customer?

First, we need to assess a product’s impact at every stage of its life cycle. From the extraction of raw materials to the disposal or recycling process.

This measurement process is known as Life Cycle Assessment (LCA). It’s the calculation and evaluation of the various impacts that a product or project can have on environmental, social and economic aspects.

But after all, what is a product if not the result of all its production stages?

climate blockchain
Digitally tracking carbon emissions throughout the chain can help the energy industry track its emissions footprint.

Blockchain “decomplexes” product tracing

The problem is that tracing all these production stages is difficult in a globalized world. This is because they are usually geographically dispersed, carried out by several different players or entities, often in several different facilities, and using several different technologies.

Globalization has considerably increased the complexity of supply chains. This complexity poses a number of challenges in terms of controlling and monitoring these impacts at every stage of the life cycle. The fact that companies often have a restricted view of their limits is also a factor.

Scope 3 emissions are difficult to measure, but must be taken into account.

The different emissions “scopes

In the context of global warming, analyzing the classification of carbon emissions is relevant. These carbon emissions can be evaluated in three categories, known as scopes:

Scope 1 carbon emissions are the direct result of sources owned or controlled by the company. Scope 2 emissions represent carbon emissions indirectly generated by energy purchased and consumed during production. Finally, scope 3 emissions are indirect emissions throughout the value chain of a product or company. Scope 3 carbon emissions also include the use of a product by the end consumer.

To find out more about scopes and how carbon emissions are classified, read our article on the subject.

The importance of measuring Scope 3 emissions

Scope 3 emissions are the most comprehensive measure of impact. Indeed, the latter can account for up to 75% of a product’s total emissions footprint. But they are also the most difficult to calculate.

Supply chain emissions require a high level of integration and coordination between its multiple networks.

Different entities must share the data needed to certify the sustainability of products and guarantee their traceability. This step is therefore essential. Anything that can be quantified is no longer a risk, but becomes a management issue.

blokchain energy

Traceability and data transparency are essential for monitoring emissions

Data sharing can have two main objectives: transparency and traceability. These terms are often confused, but they imply different objectives.

Improving transparency to get to know the players

Transparency aims to gather high-level information on supply chains. This is achieved by mapping the value chain network in terms of supplier names, facility locations, product attributes and certification.

The main aim of improving transparency is to make it clearer which paths a product follows along supply chains. This makes it possible to gather information on the players involved at every stage.

Improved traceability for better impact measurement

Traceability, on the other hand, requires a higher degree of granularity in the information shared. This information can be, for example, the dates and places of purchase of product components, specific item properties or more operational information.

Increased traceability enables more precise measurement of impacts at every stage of the supply chain. It enables data-driven strategies to be developed and sustainability claims to be verified.

Blockchain can digitally certify carbon emissions footprint

How to track carbon emissions with blockchain

The blockchain’s large distributed ledger can record consumption data from different entities in different locations in real time. We can then calculate the carbon intensity of this consumption.

Finally, we can automatically assign a certificate supplied with the transferred energy. This certificate proves where and when the energy was produced.

Blockchain makes it possible to certify energy emissions

Blockchain can improve the energy system by ensuring trust, traceability and auditability. A digital process called “electricity tokenization” makes this possible. Through this process, units of electricity become digital goods or assets. This enables automatic generation of time-stamped certificates. Transfer and tracking of ownership (based on cryptographic evidence) are also possible.

This process also ensures that certificates are sold only once, and that there is no double counting. Auditors can trace electricity consumed in the supply chain to any stage in its lifecycle.

It’s the only real way to slow global warming throughout the supply chain, and to be totally ecological at all times.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The U.S. Department of Energy will purchase three litres of helium-3 from Interlune by 2029, marking the first public contract involving a natural resource extracted from the lunar surface.
Iran will limit daily power cuts to two hours for households starting May 10, aiming to ease pressure on the national electricity grid as temperatures climb.
Iran will limit daily power cuts to two hours for households starting May 10, aiming to ease pressure on the national electricity grid as temperatures climb.
The French government has entrusted Bernard Fontana with the leadership of EDF, relying on his industrial background to manage the end of the Arenh and revive the nuclear programme.
The French government has entrusted Bernard Fontana with the leadership of EDF, relying on his industrial background to manage the end of the Arenh and revive the nuclear programme.
Germany’s new Economy Minister, Katherina Reiche, plans 20 gigawatts of gas-fired plants to address the limits of renewable energy.
Germany’s new Economy Minister, Katherina Reiche, plans 20 gigawatts of gas-fired plants to address the limits of renewable energy.
The Spanish Prime Minister has asked for more time to determine the causes of an unprecedented outage on April 28 that cut 15 gigawatts of electricity from the peninsula’s grid.
Prime Minister François Bayrou confirmed that France’s 2025–2035 energy roadmap remains under discussion and will only be finalised after parliamentary debates starting on 16 June.
Prime Minister François Bayrou confirmed that France’s 2025–2035 energy roadmap remains under discussion and will only be finalised after parliamentary debates starting on 16 June.
The re-election of the Albanese government reassures energy stakeholders calling for regulatory adjustments to accelerate projects and secure long-term investment.
The re-election of the Albanese government reassures energy stakeholders calling for regulatory adjustments to accelerate projects and secure long-term investment.
SOGARA is launching a two-phase modernisation programme to increase the country's energy autonomy by 2030, with financing primarily from external sources.
SOGARA is launching a two-phase modernisation programme to increase the country's energy autonomy by 2030, with financing primarily from external sources.
Suriname has launched a pre-distribution programme of its future oil revenues, offering a $750 bonus to more than 570,000 citizens well before the start of offshore production scheduled for 2028.
One week after the massive blackout, Spain and Portugal continue their investigations with no technical conclusion, while Madrid calls on France to accelerate cross-border interconnection projects.
One week after the massive blackout, Spain and Portugal continue their investigations with no technical conclusion, while Madrid calls on France to accelerate cross-border interconnection projects.
Australia’s opposition leader unveils a seven-reactor plan, challenging current energy policy days before federal elections and reviving a decades-old debate.
Australia’s opposition leader unveils a seven-reactor plan, challenging current energy policy days before federal elections and reviving a decades-old debate.
The French Energy Regulatory Commission proposes reducing certain renewable generation targets due to a slower-than-expected rise in electricity demand.
The French Energy Regulatory Commission proposes reducing certain renewable generation targets due to a slower-than-expected rise in electricity demand.
Nominated to lead EDF, Bernard Fontana aims to restore dialogue with electro-intensive industries and oversee the nuclear revival while ensuring the group’s financial sustainability.
Two days after a blackout that disrupted 60% of national demand, the growing share of renewables in Spain’s grid faces strong political and industrial criticism.
Two days after a blackout that disrupted 60% of national demand, the growing share of renewables in Spain’s grid faces strong political and industrial criticism.
The NGO Reclaim Finance ranked BPCE last among twenty major European banks for its lack of commitment to the transition towards carbon neutrality, according to a study published on Tuesday.
The NGO Reclaim Finance ranked BPCE last among twenty major European banks for its lack of commitment to the transition towards carbon neutrality, according to a study published on Tuesday.
François Bayrou plans to postpone the publication of the French energy decree until the end of the summer after parliamentary review, under pressure from the Rassemblement National and part of the right.
François Bayrou plans to postpone the publication of the French energy decree until the end of the summer after parliamentary review, under pressure from the Rassemblement National and part of the right.
The European Investment Bank signs a loan of over €525mn with PGE to develop solar projects and modernise a power plant in Poland.
Argentina initiates Enarsa's privatization to redefine the state's role toward stronger regulation, paving the way for increased private investment in the national energy sector amid significant industrial and commercial transformation.
Argentina initiates Enarsa's privatization to redefine the state's role toward stronger regulation, paving the way for increased private investment in the national energy sector amid significant industrial and commercial transformation.
The British environmental movement Just Stop Oil organised its final march in London on Saturday, announcing the end of its spectacular actions against new oil and gas projects in the United Kingdom.
The British environmental movement Just Stop Oil organised its final march in London on Saturday, announcing the end of its spectacular actions against new oil and gas projects in the United Kingdom.
The Dutch government is unlocking €11.4 billion aimed at securing industrial energy supplies, strengthening electricity infrastructure, and accelerating civilian nuclear development, in response to current economic and energy constraints.
The Dutch government is unlocking €11.4 billion aimed at securing industrial energy supplies, strengthening electricity infrastructure, and accelerating civilian nuclear development, in response to current economic and energy constraints.
Hydro-Québec announces a 10 G$ investment to enhance energy efficiency through various initiatives by 2035, creating over 5,000 jobs and reducing operating costs for Quebec customers.
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
The UK government and Italian energy company Eni have announced the financial closing of a project aimed at burying millions of tonnes of CO2 in the Irish Sea, an ambitious initiative to reduce industrial emissions.
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
The United States strongly criticised anti-fossil fuel policies at the International Energy Agency (IEA) summit, highlighting their dangers to global energy security.
Countries such as Brazil and Australia are criticised for overstating the CO2 absorption capacity of their forests, a practice that undermines their commitment to reducing greenhouse gas emissions, according to a report by Climate Analytics.
Countries such as Brazil and Australia are criticised for overstating the CO2 absorption capacity of their forests, a practice that undermines their commitment to reducing greenhouse gas emissions, according to a report by Climate Analytics.

Advertising