ShiftCarbon (CSE:SHFT), formerly TraceSafe, has announced the launch of a new cloud platform designed for measurement, reporting, and verification (MRV) automation of carbon offset projects.
The company said the new MRV automation platform aims to promote and make the creation of voluntary carbon credits easier, more transparent, and more accessible by significantly reducing the cost and complexity of data collection for some of these projects.
It said its world-class Internet of Things (IoT) offering is at the core of the new MRV automation platform, which marks a major milestone in its effort to achieve more accurate MRV, combat climate change, and promote the opportunity of carbon credits to a broader market.
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"Our mission is to make a positive impact on the world by facilitating sustainable development through technology," ShiftCarbon (CSE:SHFT) head of carbon products Qayyum Rajan said in a statement.
"This new platform for MRV automation is another step toward achieving that goal. By enabling more accurate and transparent emissions measuring, we can ensure that carbon offset projects are properly accounted for and receive the carbon credits they deserve. The majority of these projects not only help combat climate change but also improve the lives of people in communities around the world,” he added.
ShiftCarbon (CSE:SHFT) noted that the World Bank has highlighted that Digital MRV will be a game changer as current methods to measure, report, and verify emission reductions can be costly and time-consuming, often relying on manual operations.
“Digital technologies can streamline data collection, processing, and quality control in MRV processes, helping to reduce the cost and time to ERC issuance,” ShiftCarbon (CSE:SHFT) cited the WorldBank as saying.
The company added that it is proud to be collaborating with leading carbon credit creators to expand carbon credit capture through the use of intelligent and cost-effective IoT sensors, which provide real-time data and further improve the accuracy and transparency of the carbon capture process.
Option grant
ShiftCarbon also announced that it has granted 500,000 stock options to independent director Murray Tevlin at an exercise price of $0.10 per common share expiring two years from the date of grant.
In addition, it said it has granted 500,000 stock options to a certain of its consultant at an exercise price of $0.10 per common share expiring five years from the date of the grant. The options are granted under the company's stock option plan.
ShiftCarbon provides an innovative platform for carbon accounting, offsets, and Measurement, Reporting and Verification (MRV) automation. ShiftCarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business.
ShiftCarbon also operates TraceSafe, a leading IoT cloud platform that uses sensor technology to deliver precise and timely information, powering safer and smarter enterprise environments.
Contact the author at stephen.gunnion@proactiveinvestors.com