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Australian Energy Producers Journal Australian Energy Producers Journal Society
Journal of Australian Energy Producers
RESEARCH ARTICLE (Non peer reviewed)

Real time emissions monitoring: the foundation of a blockchain enabled carbon economy

Preben Nielsen A D , Shaun Johnston B and Philip Black C
+ Author Affiliations
- Author Affiliations

A Wood, Perth, Australia.

B Wood, Staines, The United Kingdom.

C Wood, Houston, The United States.

D Corresponding author. Email: preben.nielsen@woodplc.com

The APPEA Journal 61(2) 450-453 https://doi.org/10.1071/AJ20042
Accepted: 18 March 2021   Published: 2 July 2021

Abstract

With 49% of the world’s gross domestic product under net zero goals, the global community is changing in how it treats emissions and carbon releases, with shareholders, stakeholders and investors demanding transparency on current performance and strategies to reduce or offset emissions. High frequency, reliable data empowers an organisation to strategically optimise and track emissions to reach committed goals from the asset level to the board room and across direct, indirect and supply chain sources (Scope 1, 2 and 3). A carbon footprinting solution, which provides a holistic view of total greenhouse gas emissions, requires a combination of carbon accounting, control system integration, emissions monitoring and greenhouse gas reporting software, to deliver an automated, reliable and verifiable real-time emissions/carbon reporting solution. This solution is also critical in providing managed data which can be utilised in the carbon economy and when combined with a blockchain platform, results in a holistic data transfer chain for emissions reporting which is secure, transparent and trusted throughout industry and government. The role of comprehensive, connected environmental monitoring will be explored in the role of effective emissions offset and carbon trading economies with blockchain supported technologies being presented as an enabling aspect of the overall solution. Smart contracts embedded within a blockchain solution could automate trading mechanisms however require quality emissions monitoring data as a foundation for successful implementation. The role of quality emissions monitoring and governance in this process will be presented together with implications for industry and government for the carbon economy.

Keywords: emissions, GHG, greenhouse gas, carbon, CO2, blockchain, smart contract, energy transition, sustainability, net zero, decarbonisation, monitoring, carbon price, carbon trading, regulator.

Preben Nielsen is a Business Manager for Wood’s Applied Intelligence group in Australia with over 15 years of experience in the oil and gas, aerospace and mining industries. Preben graduated from the University of western Australia with Bachelor degrees in Science (Physics and Applied Mathematics) and Engineering (Mechanical Engineering) and the University of California, Irvine with a Master of Science (Aerospace Engineering). His experience encompasses systems engineering, digital technology, upstream processing and operations, project management, business management and contract administration.

Shaun Johnston is a Global Director for Wood’s Applied Intelligence group with over 20 years of experience in the oil and gas industry. Shaun graduated from Imperial College London with a Masters degree and a PhD in Chemical Engineering. His experience encompasses flow assurance, subsea systems (HIPPS, DEH, LDHI) and HAZOP/LOPA studies. Shaun plays a key role in joint industrial projects and collaborations with universities and industrial partners and is the Process Digital Twin lead in Wood’s Technology and Design function.

Philip Black is the Global Emerging Solutions Lead for Wood’s Digital and Technology group with over 20 years of experience in the oil and gas industry. Philip graduated from the University of Kansas with Bachelor degree in Chemical Engineering. He is a licensed professional engineer in the state of Texas. His experience encompasses software development, product management, systems integration, real time monitoring and environmental reporting. His focus at Wood is on developing innovative ways blockchain and IoT can enhance digital twins.


References

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