Osaka Gas Co., Ltd. (president: Masataka Fujiwara) and Sylvera Ltd. (CEO: Allister Furey), a carbon markets data company, have signed a Memorandum of Understanding to collaborate on improving the quality assessment of carbon credits. This alliance aims to address the growing need for reliable carbon credits as businesses increasingly offset greenhouse gas emissions as part of their carbon-neutral strategies.
As global demand for carbon credits is projected to reach up to 100 trillion credits by 2030, the need for stringent quality assessments has become crucial. Ensuring the integrity of carbon credits helps mitigate risks such as greenwashing and price volatility while fostering trust in the market.
Sylvera, a leader in carbon market data, provides comprehensive ratings for carbon credit projects. Using expert analysis, robust evaluation frameworks, and extensive datasets, the company helps organisations make informed decisions regarding carbon credit trading and investments. Their ratings are widely adopted to ensure the selection of high-quality carbon credits.
Osaka Gas has pioneered the development of an AI system that conducts rapid, preliminary evaluations of carbon credit quality. By leveraging generative AI, the system analyses project plans and assesses their alignment with multiple criteria. Initially applied to the biochar sector, the system has demonstrated high accuracy in its assessments.
Under the new alliance:
- Sylvera will support the expansion and refinement of Osaka Gas’s AI system, broadening its application across various carbon credit sectors.
- Osaka Gas will facilitate Sylvera’s engagement with Japanese companies to ensure better trading and investment in high-quality carbon credits.
Both companies are committed to achieving carbon neutrality by 2050. By enhancing the quality of traded and invested carbon credits, they aim to contribute to global decarbonisation efforts and strengthen the credibility of carbon offset mechanisms.
This collaboration highlights a significant step toward ensuring that carbon credits become a reliable tool in combating climate change.
For more information visit www.osakagas.co.jp
