CRU launches a tool for analyzing data on GHG emissions from metals and fertilizers
The global mining, metals and fertilizers business intelligence company CRU Group has announced the launch of its emissions analysis tool.
The CRU data for this service is calculated in accordance with the GHG âProtocol Corporate Accounting and Reporting Standardâ. It differs from self-published issues by asset owners only because it is completely standardized and comparable across assets. While the individual reporting requirements or preferences of asset owners lead to reported figures lacking absolute comparability to one another, CRU provides an independent and comparable assessment at all levels. CRU’s dataset enables unbiased benchmarking by providing transparency and comparability.
This data allows governments, industry, financial organizations and consumers to compare and make informed, data-driven decisions as the global challenge of decarbonizing commodities arises.
The CRU has been evaluating emissions data as well as production costs since the launch of the European Union’s “Emissions Trading System” on New Years Day in 2005. Its data set has since been expanded to encompass all of the world’s major steel and aluminum producing assets, covering 1,100 assets and approximately 3 gigatonnes, or 5-6% of global Scope 1 and 2 greenhouse gas (GHG) emissions. While some important Scope 3 categories are included, coverage for copper, nickel and nitrogen based fertilizers will also be added. Data matters because miners, metals and fertilizer producers are working with their stakeholders to meet the collective challenge of decarbonizing their supply chains, tackling climate change and adhering to ESG standards.
Lavan Mahadeva, Research Director at CRU, said: âThere are so many complex components and ways of aggregating data that, although very precise, the basis for reported emissions can differ considerably. This has created the need for comparable, plant-to-plant and even process-to-process comparisons of greenhouse gas emissions that allow industry participants to more clearly map their path to decarbonization, assess their peers and supply chain partners. While sustainability and emission reductions are encouraged by governments around the world ahead of COP26, CRU data is well placed to inform this global effort. “
Chris Houlden, Head of Analysis at CRU, added: âThe mining, metals and fertilizer industries are interconnected and essential, but the challenges of decarbonization remain significant. To achieve these goals, producers and their stakeholders will need to refer to a granular and standardized data set that facilitates both policy and decision making. This information gap across supply chains is a CRU can now fill. As we seek to prioritize decarbonization, it is essential to start with transparent data and use it constructively to facilitate change. “
Read the article online at: https://www.worldfertilizer.com/product-news/16022021/cru-launches-analysis-tool-for-metals-and-fertilizer-ghg-emissions-data/