Evercomm Singapore won for best technology solutions that are easy to implement in real-world scenarios to address the challenge of scaling up climate action through innovative technology solutions in sustainable finance within the category IoT and Sensor Technologies. Today, the winners will present their business case solutions at the COP28 Blue Zone Digital Innovation pavilion.
Evercomm's award-winning technology, built on the Internet of Things (IoT) and sensor technologies, provides a platform for collecting, integrating, and comparing data from various sources. The software helps companies track and disclose greenhouse gas emissions correctly and verifiably. Clients can upload evidence on the platform, which makes third-party assurance audits more cost-effective and faster than traditional carbon audits. The platform's calculation methodology is based on the Greenhouse Gas Protocol.
Its proprietary software adheres to rigorous standards, surpassing many in-house methodologies. Evercomm also partners with industry leaders such as Mitsubishi Electric to scale their industrial deployment across Asia-Pacific to measure, track, and reduce their carbon footprint and identify greenhouse gas emission hotspots.
- Rigorous Standards Compliance: Adherence to GHG Protocol, ISO 14064-1, and ISO 14064-2 ensures the highest accuracy and reliability.
- Verified by Bureau Veritas: The platform's credibility is further enhanced through verification by Bureau Veritas, ensuring transparency and accountability.
- Advanced Statistical Algorithm: The technology incorporates an algorithm to evaluate data quality, preventing the contamination of readings from faulty sensors and mitigating the risk of greenwashing.
- Transparency and Auditing: Emissions are verified at the source and can be audited by third parties, significantly reducing the potential for false information and greenwashing.
Chen Chiu-Hao (Ted), CEO of Evercomm, emphasises the alignment of its technology with MAS's recent launch of the Singapore-Asia Taxonomy initiative. "Singapore's long-term economic growth depends on innovation, with solutions scalable to international markets. 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.
Under Project NovA!, a collaboration with the Monetary Authority of Singapore (MAS), Evercomm is refining AI-based applications for specific industries to accelerate decarbonisation.
Because climate accountability stakes are higher than ever for industries, AI-driven authenticity, and the quality of net zero solution recommendations are essential to curtailing human involvement and potential biases in data collection and analysis.
"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", explains Chen Chiu-Hao (Ted), CEO of Evercomm.
Demonstrated Environmental and Business Benefits:
- Up to 30% CO2 Reduction: Evercomm's technology offers businesses a substantial reduction in carbon dioxide emissions.
- Up to 40% Energy Savings: Businesses can achieve significant energy savings by implementing Evercomm's innovative technology.
- Capital and Operational Expenditure Reduction: The AI tool provides up to 30% associated capital expenditure (CAPEX) reduction and up to 15% operational expenditure (OPEX) reduction.
- Enhanced Data Authenticity and Productivity: Evercomm's proprietary software increases data authenticity by up to 90% while boosting productivity in carbon accounting by up to 80%.
- Streamlined Compliance Reporting: Cognizant of the urgency for speed to meet targets, compliance reporting is expedited, saving up to 80% of the time and 50% of the cost for net-zero planning, offering the ability for new companies access to greener commerce in less than two weeks.
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About Evercomm Singapore
Evercomm is a Singapore-based climate tech company supporting businesses to net zero. Its proprietary carbon accounting platform tracks, measures, and analyses CO2 emissions from industries such as water and waste performances, translating them into carbon emission values per 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. www.evercomm.com.sg
LinkedIn: https://www.linkedin.com/company/evercomm-singapore/
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