When it comes to decarbonisation, transparency and credibility are often questioned. That could be a thing of the past with smart IoT and sensor technologies developed by Singapore climate tech innovator Evercomm.
The Singapore startup was awarded the COP28 UAE TechSprint award presented by the UAE central bank governor in Dubai this week, an award that recognises tech solutions that contribute to global efforts in tackling climate change.
Evercomm’s carbon accounting platform tracks, measures, and analyses CO2 emissions and translates them into carbon emission values that meet ISO 14064-1 standards.
All their data undergoes third-party verification, ensuring the integrity of its carbon accounting reports. Headquartered in Singapore, Evercomm collaborates with industry players, the private sector, the United Nations, and government agencies in Singapore.
Founded in 2013 as an engineering and technology company for sustainability, Evercomm works with the private sector, government agencies in Singapore, and the United Nations.
Evercomm's award-winning technology can collect, integrate, and compare data from various sources. This helps companies track and accurately disclose greenhouse gas emissions.
Clients can upload evidence on the Evercomm platform, which makes third-party audits more cost-effective and faster than traditional carbon audits. The platform is verified by Bureau Veritas, ensuring credibility, transparency, and accountability.
“Combining Evercomm's Net Zero solution suites with Bureau Veritas’s ISO-level assurance, our collaboration is set to redefine credibility and transparency in Southeast Asia's decarbonisation projects,” said Ted Chen, Co-founder and CEO of Evercomm.
“We are dedicated to elevating our customers' net zero strategies to meet the highest standards, facilitating their readiness for green financing and international trade, adherence to local/global regulations, and journey towards generating carbon credit for some.
“This collaboration aspires to set a new precedent in environmental stewardship and making greenwashing a relic of the past.”
Climate tech from Evercomm reduces CO2 emissions
That is some statement, yet the technology and methodology, based on the Greenhouse Gas Protocol, adheres to rigorous standards, allowing companies like Mitsubishi Electric to measure, track, and reduce their carbon footprint, while importantly also reducing costs.
Demonstrated benefits of the Evercomm platform include reducing CO2 emissions by up to 30%, energy usage by up to 40%, plus streamlined compliance reporting saving up to 80% of the time and 50% of the cost.
"Most carbon accounting firms lack native digital verification; for this reason, our solutions can interfere with the validation engine of IoT sensors to verify the data quality at the source level, further strengthening data accuracy and speed", said Chen.
At COP28, Evercomm picked up the TechSprint award, presented by the UAE Central Bank governor. Evercomm won for providing the best technology solutions in the category IoT and Sensor Technologies. Other categories include AI Technology, and Blockchain Technology, won by Hong Kong-based Intelsel and UK-based Zero13, respectively.
“Our technology answers the challenge for more credible transition and emissions where it is most needed today – for sectors struggling to reduce emissions due to technological constraints,” added Chen.
Climate tech startups at COP28
Evercomm wan't the only AI-powered climate tech solution to be recognised at CBUAE's event at COP28.
Intensel, from Hong Kong, was recognised in the category of 'Innovative AI solution to scale up sustainable finance and climate action' with their climate analytics platform that leverages AI, satellite imagery and climate and financial models to measure and translate climate hazards into financial risk at the asset level.
ZERO13, from the UK, was recognised in the category of 'Innovative blockchain solutions in sustainable finance to scale up climate action' with its blockchain-driven platform facilitating issuance, trading, clearing and settlements of carbon credits linked to tangible ESG assets, with an approach based on interoperability of multiple blockchains and APIs.
At COP28, more than 100 climate tech startups are offering innovative solutions that can contribute to a low-carbon future – spanning diverse sectors such as sustainable transport and agriculture, solar energy, and several others.
These climate technologies could at least double their contribution to global growth while removing up to 25 billion tonnes of carbon emissions annually.
Some of the startups that will be participating and displaying the innovative products, include Mazi Mobility, a Kenyan-based mobility company that will showcase the transformative potential of e-mobility solutions for reducing emissions and foster sustainable living; and SolarSpace, an Arizona-based startup, will present its advanced solar energy technology.