Palantir and Trafigura Announce Collaboration to Deliver Supply Chain Carbon Emissions Platform to Market
DENVER & SINGAPORE–(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.
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
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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.
Contacts
Trafigura Press Office: Tel +41 (0) 22 592 4528 – media@trafigura.com
Palantir Media: Lisa Gordon – media@palantir.com