Today the World Economic Forum (WEF) announced the completion of a proof of concept by the Mining and Metals Blockchain Initiative (MMBI). The Carbon Tracing Platform (COT) aims to monitor greenhouse gas emissions from end-to-end.
For the mining firms, their customers such as the car companies want to measure their production carbon footprint, so they need to know about the raw materials, including metals and minerals. Plus, the consortium participants are very large organizations with their own ESG reporting requirements. This sort of project will allow them to share the costs of developing a solution.
First unveiled last year, the consortium participants are Anglo American, Antofagasta Minerals, Eurasian Resources Group, Glencore, Klöckner & Co, Minsur, and Tata Steel. Dutch blockchain Kryha developed the solution and the consortium is advised by Susan Joseph, who previously worked with insurance consortium B3i.
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