1.2 PURPOSE
Carbon makes up to 81 % of the greenhouse gases released in the environment [ 1 ]. The major share comes from CO2 production , which is the leading cause of global warming . Therefore , it is essential that the production of carbon will be significantly reduced to achieve the goal of Net Zero carbon production . Even after extensive studies in today ’ s technologically pervasive world , we still struggle to answer the simple question “ What is the carbon footprint of a specific product when it is manufactured ?”. If the amount of carbon produced during manufacturing cannot be measured , it is very difficult to reduce it .
To close this gap , TSX permits manufacturers to measure the PCF of their goods through standardized calculation methods . Furthermore , it enables them to get their PCF verified through trusted issuers of VC . The shared PCF is also verifiable , and it can be proven that it is released from a trusted issuer .
Once the process of calculating carbon emissions is standardized and transparent , carbon reduction can be achieved in an empirical way . There are several ways of reducing carbon emissions , for example through application of more eco-friendly manufacturing processes or use of renewable energy sources etc . Lastly , manufacturers could compensate their carbon emissions related to a specific product through carbon sinks of an equivalent amount .
1.3 STRUCTURE
In this paper , we will give an overview over the ESTAINIUM Association , TSX and how a trust technology , like verifiable credentials can help sharing PCF data in a verifiable and trustworthy manner to facilitate industry to reach the goal of Net Zero carbon emission .
1.4 AUDIENCE
This publication is targeted to interested technology leaders in businesses looking to improve operational efficiency and discover decarbonization and sustainability opportunities .
IIC Journal of Innovation 33