Palantir and Trafigura Announce Collaboration to Deliver Supply Chain Carbon Emissions Platform to Market
May 24 2022 - 1:00AM
Business Wire
Trafigura Pte Ltd (“Trafigura”), one of the world’s largest
physical commodity trading companies, and Palantir Technologies
Inc. (NYSE: PLTR, “Palantir”), today announced the development of a
technology services platform for carbon emissions calculation,
reporting and collaboration across commodity supply chains.
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Image showing Palantir’s software as
developed for the supply chain carbon emissions platform configured
with Trafigura (Graphic: Business Wire)
A consortium approach enables participants across global energy
and commodities supply chains to model lifecycle carbon intensities
and allows industry participants to work together for enhanced
visibility and reporting. The platform aims to increase
transparency of emissions from the production, transformation and
transportation of commodities across the supply chain. This will
enable participants to better understand lifecycle emissions
related to their indirect operations, to benchmark against other
participants and identify opportunities for lower carbon
pathways.
This project marks the first time Palantir will go to market
with a partner on carbon emissions tracking. Leveraging Trafigura’s
expertise in global commodity supply chains, Palantir’s Foundry
operating system will be configured to provide consortium partners
with an accurate calculation of carbon intensity across supply
chains, beginning with crude oil and refined products, and
concentrates and refined metals.
The announcement builds on the work already done over the past
year by Palantir and Trafigura, with the initial pilot already
having built scenarios across ten million carbon pathways using
actualized commodity shipments by integrating Trafigura data and
metrics supplemented by third-party data.
“Our customers are increasingly asking us for visibility into
the lifecycle emissions of the commodities we move as they prepare
for regulated Scope 3 emissions reporting and more generally for
Net Zero,” said Jeremy Weir, Trafigura’s Executive Chairman and
CEO. “The complexity involved in commodity supply chains requires
robust cooperation across the industry and a technological solution
that can enable meaningful decisions and change. We are delighted
to jointly deliver a solution to market with Palantir, whose
technology can manage the complexity and data security required to
provide additional services to our customers and the market.”
“The collective action required to address many of our most
pressing global challenges requires more than resolve or a shift in
political priorities,” said Alexander C. Karp, co-founder and chief
executive officer of Palantir Technologies Inc. “It requires a
shared understanding of the facts based on data. We have built
software platforms that deliver that shared understanding by
enabling institutions across entire industries and sectors to
collaborate and model the world in which they operate.”
About Palantir Technologies
Foundational software of tomorrow. Delivered today. Additional
information is available at https://www.palantir.com.
About Trafigura
Founded in 1993, Trafigura is one of the largest physical
commodities trading groups in the world. At the heart of global
supply, Trafigura connects the world with the vital resources it
needs. Through our Oil & Petroleum Products, Metals &
Minerals, and Power & Renewables divisions, we deploy
infrastructure, skills and a global network to move commodities
from where they are plentiful to where they are needed most,
forming strong relationships that make supply chains more
efficient, secure and sustainable.
Trafigura also owns and operates a number of industrial assets
including a majority share of global multi-metals producer Nyrstar
and fuel storage and distribution company Puma Energy; and joint
ventures Impala Terminals, a port and logistics provider, and Nala
Renewables, a power and renewable energy investment and development
platform. With over 1,000 shareholders, Trafigura is owned by its
employees and employs over 13,000 people working in 48 countries.
Visit: www.trafigura.com
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
our expectations regarding the expected benefits of our software
platforms. Forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified. Forward-looking statements are based on information
available at the time those statements are made and were based on
current expectations as well as the beliefs and assumptions of
management as of that time with respect to future events. These
statements are subject to risks and uncertainties, many of which
involve factors or circumstances that are beyond our control. These
risks and uncertainties include our ability to meet the unique
needs of our customer; the failure of our platforms to satisfy our
customer or perform as desired; the frequency or severity of any
software and implementation errors; our platforms’ reliability; and
our customer’s ability to modify or terminate the contract.
Additional information regarding these and other risks and
uncertainties is included in the filings we make with the
Securities and Exchange Commission from time to time. Except as
required by law, we do not undertake any obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220523006006/en/
Trafigura Press Office: Tel +41 (0) 22 592 4528 -
media@trafigura.com
Palantir Media: Lisa Gordon - media@palantir.com
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