KPMG U.S., Context Labs Announce Alliance to Enhance Credibility, Rigor of Environmental Measurement and Reporting
Reporting enhanced by advanced climate data & analytics, enabled by machine learning & AI
New York City and Cambridge, MA, April 26, 2023 (Newswire.com) - KPMG LLP and Context Labs today announced an alliance to help companies better measure, quantify, and reduce their environmental footprints using distributed ledger technology and advanced climate data and analytics, enabled with machine learning and AI. The alliance will provide strategic support to companies working to reduce environmental impact, analyze their efforts to decarbonize, and provide transparent and traceable data, as investors, regulators, and other stakeholders increasingly demand ESG disclosures.
"Accessing accurate and complete emissions data is key for effectively measuring a company's carbon footprint," said KPMG U.S. ESG Leader Rob Fisher. "The type of data, analysis and insights provided by KPMG and Context Labs through this alliance will help companies accelerate their decarbonization efforts with specific actions they can take to reduce their environmental footprints."
The alliance combines Context Labs' advanced technology, which has been proven in the marketplace, with KPMG's leading reputation in providing environmental monitoring, analytics and reporting for customers across market sectors. The collaboration between Context Labs and KPMG U.S. is already demonstrating results with Williams, an energy company handling 30% of the natural gas in the United States.
"In 2022, KPMG U.S. made an initial investment in Context Labs. Since then, we have worked together to help companies improve the sophistication and rigor of their emissions reporting," said Dan Harple, Founder and CEO of Context Labs. "I am excited to announce the establishment of this alliance with KPMG U.S, which will enable Context Labs' technology to further bolster the integrity, veracity, and commercial value of our customers' data, leveraging KPMG's best-in-class capabilities to help enhance transparency around environmental reporting and disclosure."
Williams is leveraging Context Labs' Decarbonization-as-a-ServiceTM platform to track and measure emissions across the full energy value chain, executing the energy industry's first end-to-end methane intensity certification, supported by KPMG. The platform provides transparent data and insights on the carbon intensity and climate performance attributes for energy sector customers.
"Williams' NextGen Gas platform is the industry's first comprehensive, full value-chain certified natural gas program, supported by KPMG U.S. and Context Labs," said Chad Zamarin, Executive Vice President of Corporate Strategic Development at Williams. "We've established a platform to bring low-carbon intensity products to our customers to provide greater trust, transparency and transactability. This initiative exemplifies the collaboration and innovation needed to demonstrate that Williams is committed to credible and transparent solutions to prove the quality of low-carbon intensity natural gas."
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax, and advisory services. The KPMG global organization operates in 143 countries and territories and has more than 265,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.
About Context Labs
Context Labs is dedicated to sourcing, organizing, and contextualizing the world's ESG information. The company enables data to become trusted, shared, and utilized as Asset Grade Data, providing insights and solutions to inform markets. Context Labs mission is to provide the world's trusted data fabric platform, delivering Asset Grade Data to customers using the Immutably™ Enterprise Data Fabric platform, deploying machine learning, Artificial Intelligence, and cryptographic blockchain technologies, for context-driven insights.
Building on the Immutably™ Enterprise Data Fabric platform, the company has deployed customer service layers (1) Decarbonization-as-a-Service™ (DaaS™), tailored to accelerate the Global Energy Transition, and its (2) CLEAR Path™ platform to enable customers to optimize value creation with the highest quality carbon credits. The company was formed out of MIT research and is comprised of a leadership team that has been instrumental in the at-scale growth of the Internet, in prior companies. The company has offices in Amsterdam, Cambridge, MA, and Houston, TX. Learn more at www.contextlabs.com.
As the world demands reliable, low-cost, low-carbon energy, Williams will be there with the best transport, storage and delivery solutions to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation, storage, wholesale marketing and trading of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 32,000 miles of pipelines system wide - including Transco, the nation's largest volume and fastest growing pipeline - and handles approximately one third of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. Learn how the company is leveraging its nationwide footprint to incorporate clean hydrogen, NextGen Gas and other innovations at www.williams.com.
Source: Context Labs