The energy industry needs more emissions data and transparency if it wants to achieve sustainability targets.

The UN's latest report from the IPCC says that the world still has time to avoid the worst effects of climate change.

But as the BBC summed up , "half the human population could be exposed to periods of life-threatening climatic conditions arising from heat and humidity" if we don’t limit warming.

Reports like these fuel the energy transition debate. They influence how regulators act and how energy companies are allowed to operate. Their conclusions and warnings create chaos in an industry that isn’t used to adapting to change and doesn’t always have the technology and supply chain ready to support new policies.

What you get are ambitious renewable energy capacity and emissions targets that the industry often isn’t able to follow.

Offshore wind energy is a good example. According to Esgian's Wind Analytics , global offshore wind targets a 435% capacity increase by 2030.

Several countries don’t have enough planned capacity to meet their targets. Others have stacked capacity additions near the end of the decade and aren’t taking supply chain constraints into consideration.

It can take up to ten years for a wind farm to go from liscencing and approval to operation. Delays can multiply and create bottlenecks down the line.

Goals and reality aren’t matching up.

Demand for change in the energy industry is increasing so quickly and with such an intensity that it’s difficult for authorities and companies to set relevant targets and make the most effective decisions.

Data is the key

The energy transition depends on finding the best balance between the world's still-present need for fossil fuels and policies that accelerate the energy transition’s rate of change.

Without proper data it’s nearly impossible to do that.

Today most companies keep their emissions data secret or buried in sustainability reports with heartwarming statements and happy graphs.

Companies, regulators, and financial institutions need to know how much CO2 the industry is emitting in real-time By company or by asset types like drilling rigs and wind farms.

They need normalized and comparable data for benchmarking and compliance. They need platforms to forecast emissions and the understand the effects of emissions reduction technology. They need applications to build scenarios and develop and verify strategies and targets.

Until recently these data and services haven’t been available.

Esgian provides data and applications to enable sustainable action

We started providing digital services to the oil and gas industry in 2016. We cooperated with Bassoe Offshore on the development of Bassoe Analytics, an offshore drilling rig database, market analysis, and asset valuation platform.

Five years later Bassoe Analytics was acquired by Esgian , a company that provides emissions performance data, emissions forecasting, impact analysis of emissions initiatives, and insight for the offshore oil and gas, shipping, and offshore wind industries.

Esgian’s ambition is to become the preferred emissions partner for the ocean industries with their data as a service platform.

For us at WDF we’re excited about being part of the energy transition by working with Esgian on developing their digital products.

With more data and more transparency the energy industry can find a clear and efficient path toward sustainability.

Image source: Main image by Guillaume Baviere under the Creative Commons BY-SA 2.0 license