New Carbon Management Tool to Unlock Carbon Capture Potential of Corporate Land Holdings
UK-based provider of satellite and AI powered operations AiDash announced on 15 November the launch of a carbon measurement and management tool which will help utilities unlock carbon capture potential of their land holdings, the company claims. By tapping into the environmental value of their land, utilities can mitigate the risk of escalating carbon credit pricing.
Governments and businesses such as farming, utilities, mining, and timber own vast amount of land which they can utilise to capture their CO2 emissions. This can help these businesses save up to 90% compared with buying the equivalent volume of carbon credits from the market, stated AiDash in a press release.
AiDash’s expansion of its Intelligent Sustainability Management System (ISMS) alleviates these challenges by using satellite imaging, combined with AI to determine the amount of carbon captured in land, predict the potential to capture additional carbon and help businesses build plans. The solution not only provides measurements that meet carbon credit standards, but also continuous evidence to prove that credits are based on additional carbon captured and that carbon remains permanently captured in the ground, which is crucial for credible ESG reporting.
“Many organizations will soon be priced out of the carbon emissions market, or they will spend much more than they originally anticipated,” says Abhishek Singh, co-founder and CEO of AiDash. “An easier path is to run your own offset program on your own land and mitigate the price risk for carbon. With ISMS you will not need to buy as many credits as before to reach net-zero and you might achieve your net-zero goal just by using your own land.”
“The priority for businesses when it comes to net zero needs to be scope one and two emissions. If all businesses eliminate the carbon emissions they make directly and indirectly, this will automatically address carbon emissions up and down the supply chain.” concludes Abhishek.
For example, if utilities, who are estimated to own 450,000 acres, dedicated 10% of this land to carbon capture, they could save almost £300 million by 2035. However, this opportunity is being overlooked with businesses currently unaware of the carbon capture potential of their land holdings or how they can build a workable carbon offset strategy into business operations, the firm claims.
Globally, over 75 companies of every size use AiDash products on 5 continents and measure and manage biodiversity and carbon sustainability for over 3,500 land and production sites, AiDash stated in a press release.