ShiftCarbon (CSE:SHFT) (formerly TraceSafe) has announced that its Offset platform now includes Carbon Transparency Hub, a feature that allows companies to securely display their climate impact to their customers and stakeholders.
The Carbon Transparency Hub is a powerful tool within ShiftCarbon (CSE:SHFT) Offset that enables clients to build their own custom mini-sites for climate reporting, the company said. The feature is designed to allow clients to showcase their offset certificates, retired credits, Sustainable Development Goals, and supported offset projects to their customers, investors, and regulators.
"At ShiftCarbon (CSE:SHFT), we understand the importance of transparency and accountability in the fight against climate change," said Qayyum Rajan, head of carbon products at ShiftCarbon in a statement. "Our new Carbon Transparency Hub empowers companies to take the first step in their climate impact reporting. We believe this feature will encourage companies to double down on their commitment to sustainability and environmental responsibility."
READ: ShiftCarbon partners with Patch to expand access to ShiftCarbon credits
ShiftCarbon noted a study by Institute for Sustainable Finance that highlights the incomplete state of the current climate-related risk disclosures by Canadian companies, which, the study suggests, "impedes the ability of financial institutions to properly price the opportunities and risks associated with climate change [and] presents significant consequences for Canadian competitiveness, the functioning of Canadian markets, and the fight against climate change".
The company said the new Carbon Transparency Hub addresses a few key areas of improvement as suggested by the Institute for Sustainable Finance, specifically the new feature allows customers to improve the breadth and accessibility of their climate impact reporting.
ShiftCarbon Measure already guides customers through the steps necessary to conform with the global climate reporting frameworks, while ShiftCarbon Offset directly addresses the quality concerns when it comes to carbon credit verifiability and authenticity.
ShiftCarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting and Verification) automation. The company also operates TraceSafe, a leading Internet of Thing (IoT) cloud platform, which uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments.
Contact the author at jon.hopkins@proactiveinvestors.com