3.1 AIM OF THE TSX FOR PCF
TSX does not necessarily require new standards to be written from scratch . Nonetheless , further efforts to align the existing ones will improve the PCF quality . Interoperability can be made transparent by either requesting additional parameters when documenting a PCF or limiting the choices of practitioners with PCF accounting . A common level of ambition must be identified , which is practical and still feeds the purpose of giving people and companies an effective option to track , reduce and compensate their emissions . Currently , TSX ’ s goal is to enable sharing of PCF data in supply chain and later other ESG data , too .
The major participation in the TSX network will come from industry and the certifiers or accreditation bodies . The industrial partners would be aiming to reduce their adverse impact on the planet . The certifiers or accreditation body would be the trust anchors that verify the PCF of the manufacturers in a supply chain .
4 CORE APPROACH
The approach to create a digital way of calculating and communicating PCF values is called TSX for PCF . For that , it is imperative that all parties in the supply chain can share their contributions with ease . Once we have streamlined the process of sharing PCF values , we envision that it would be much easier for companies to reach the goal of Net Zero carbon emissions . Furthermore , we focus on the core approach for TSX for PCF that other parties can adopt to fulfil the need to measure , share , and compensate carbon emissions .
4.1 MAPPING TSX FOR PCF PARTICIPANTS
The VC model is a powerful way to share the PCF values between parties within a supply chain , particularly because of their nature of being cryptographically verifiable . This brings an important aspect of trust into the system , which is also a requirement from a business perspective . We envision different stakeholders becoming part of the TSX network and having different roles depending on their business objectives . To utilize VC technology , we need to map different stakeholders from the TSX network to the different roles within the VC Model .
Certifiers can validate the PCF values of other stakeholders as third-party certification bodies , thereby bringing trust into the ecosystem . Consequently , they take the role of VC issuers . The manufacturers and their suppliers are holders of verifiable credentials . Whenever manufacturers want to calculate the PCF of a product , they contact their suppliers for a credential with the PCF values and adjoining data , which are the required input values to calculate the PCF . The supplier would share the requested information in form of a verifiable credential . The manufacturer adds the respective PCF value to the calculation of the PCF . It is important to note that the manufacturer would also play the verifier role once it has received the credentials from its suppliers . Furthermore , exclusive verifiers in the network can act as additional role , which can be taken by auditing authorities , or end customers that buy the product and need to make an informed decision about the PCF before purchase .
38 January 2023