It was the Australian forest fire that killed so in the end. Adam Hearne had worked for 12 years at businesses that served some of the world’s biggest greenhouse gas pollution sources. First, at Rio Tinto, one of the biggest global mines, and then at Amazon, where he managed EU-wide inbound distribution activities, Hearne was active in ensuring that things worked efficiently for companies whose activities spill millions of tons of carbon dioxide into the atmosphere.
According to a corporate survey, Amazon’s corporation itself was liable for generating 51.17 million metric tons of carbon emissions last year — the equivalent of 13 coal-burning power plants.
Wildfires raged in 2019 that ravaged more than 46 million acres of land, destroyed more than 9,000 homes, and killed more than 400 people and unknown numbers of animals — bringing certain creatures to the brink of extinction.
Hearne launched CarbonChain that year along with an old friend from his business school rugby days (Roheet Shah) and computer science and machine learning experts from Imperial College of London (Yuri Oparin and Jeremiah Smith). The startup, now set to graduate from the new Y Combinator class, is selling a program that will reliably compensate for commodity market emissions — which accounts for 50 percent of the world’s greenhouse gas emissions.
Resources for the organization are arriving at the same time. Countries across the world are expected to implement even more strict carbon dioxide and greenhouse gas pollution laws.
The European Union is working slowly to pass sweeping new climate change regulations which are mirrored in the local economies of the region. Also, petro-states like Russia (at least according to Russian officials) are poised to introduce new climate legislation.
Something is lost with all of this are mechanisms for businesses to control their emissions and solutions effectively, and will better evaluate how well carbon offsets perform.
CarbonChain approaches this concern by moving after the businesses that account for the largest majority of greenhouse gas emissions, Hearne said.
According to Hearne, authorities need to go after oil and gas and energy and mineral suppliers to make sure pollution cuts and legislation operate. According to Hearne, CarbonChain has built templates for each specific commodity in the supply chain for those industries. Digital copies were produced by the organization for any piece of equipment used in heavy industry.
CarbonChain ‘s program is so accurate, according to Hearne, that it will inform consumers how much carbon emissions are found in a cup of coffee or a bottle of wine (which is two pounds of carbon dioxide, by the way, for imported wine).
But the platform of CarbonChain appears to have the most robust approach of all of the firms that seek to track emissions. Some startups include Persefoni, which raised $3.5 million for its approach, and another Y Combinator alum, SINAI Technology, which seeks to provide data on carbon emissions for businesses.
If the organization would accurately calculate the embedded content pollution down to a single piece of rebar, it will have tremendous consequences for business at large. The business also fits perfectly into the pattern of founders with deep market expertise developing vertical strategies focused on the application of machine learning to gather large data sets.