Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Innovate UK backs PermutableAI for emissions predictions

© Shutterstock / Den RisePost Thumbnail

Award winning ESG data startup Permutable AI, has been awarded a grant by the UK’s innovation agency Innovate UK, to improve accuracy in predicting the world’s CO2 emissions trajectory.

  • PermutableAI wins Innovate UK grant to develop AI processing of ESG data.
  • Combining ESG disclosure with a range of other datasets provides a clearer picture of emissions risk.
  • As AI improves alongside an understanding of the implications of ESG data points, companies will be forced to face the consequences of operational decisions in an open way.

Permutable will use AI technology – specifically Natural Language Processing (NLP) – and data from Permutable’s global data partners, to fill in data gaps caused by companies’ failure to disclose carbon emissions and use this to improve prediction accuracy.

Founded by CEO Wilson Chan in 2020, Permutable’s ESG database and analytics tool provides in-depth, granular ESG data across 6,500 companies globally, enabling companies to assess their reputational risk across supply chains and investment decisions.

The UK was the first G20 country to make it mandatory for Britain’s largest businesses to disclose their climate-related risks, but this omits small-to-medium sized enterprises (SMEs).

Most large company carbon emissions come from their supply chains and the SMEs in them. Supply chain emissions are on average 11 times higher than those produced by a corporation’s own direct activity, according to CDP.

The project’s aim is to improve greatly the accuracy of estimates of carbon emissions generated by the highest polluting industries and the many companies in their supply chains.

With access to best-in-class data, Permutable’s machine learning team will provide better and more accurate estimates for every industry and country. Resolving the problem of lack of high-quality, reliable, and comparable data on CO2 emission levels hinges to a large extent on detecting and addressing persistent data gaps.

The funding will enable Permutable to combine the latest machine learning technology with Permutable’s knowledge of changing carbon emission trends to help governments and companies address the urgent sustainability issues exemplified by the current climate crisis, achieve net-zero emissions globally, and avoid greenwashing.

This includes setting a clearer decarbonisation trajectory, as well as identifying carbon emission data gaps by industry.

Wilson Chan, Permutable Founder & CEO said: “The Paris Agreement set long-term goals to guide all nations to reduce global greenhouse gas emissions greatly and to limit the global temperature increase in this century to 2 °C while pursuing efforts to limit the increase even further to 1.5 °C. However, to do this, we urgently need to address the data gap, thought to be in the region of 90 – 95% of emissions data from companies.”

He continued: “Using our NLP technology, we aim to improve greatly the accuracy of estimates of carbon emissions as the drive to decarbonise intensifies and the carbon footprint of the corporate world comes under tougher scrutiny. We are grateful to Innovate UK for this grant, which allows us to dedicate our machine learning technology and knowledge to a critical global issue.”


More from SG Voice

Latest Posts