Business Wire

Clarity AI: Legacy Data Providers Have Discrepancies of More Than 20% in 13% of Direct Emissions Data

Share

Clarity AI, the leading global sustainability tech platform, announced today that of approximately 6,500 public companies that report direct emissions, leading data providers have discrepancies in this reported data 42% of the time, where a discrepancy is any difference of more than 1%. When increasing the discrepancy threshold to more than 20%, leading data providers have discrepancies in one out of every eight data points.

“These significant discrepancies in 13% of the data can make the carbon footprint of a climate fund increase or decrease by more than 20% and highlight the real challenges that investors face when selecting a data provider,” said Patricia Pina, Head of Product Research and Innovation at Clarity AI. “Data reliability is core to what we do, and we see huge benefits in using advanced technology to help ensure quality.”

Clarity AI identified three problem areas legacy data providers can encounter when collecting data:

  1. Human Error: Human errors account for more than 80% of the errors found. These vary in nature but some examples include: incorrect addition of category values, misinterpretation of report details, and inaccurate unit measurements (e.g., tons vs. gigatons)
  2. Inconsistent Reporting Boundaries: Data providers use boundaries (i.e., rules to decide which entities from the group to include or not, what to do with joint ventures, investments, etc.) for emissions reporting inconsistently
  3. Incomplete Disclosures: Companies publish incomplete disclosures that omit relevant emissions (e.g., Scope 3 categories, regions/offices, business lines)

“At Clarity AI we rely on technology and data to solve reliability issues. First, we curate a robust dataset of sustainability data points, which have gone through rigorous quality checks. Then, we have trained, calibrated, and validated an expert-supervised machine learning model to select the most reliable data points and filter out non-reliable data,” added Ron Potok, Head of Data Science at Clarity AI. “The flexibility of a machine learning model allows for much more complex relationships between the reliability of a data point and its features. The model analyzes the data from all angles at every level of granularity, which boosts its performance.”

Advanced technology, like machine learning, is the only scalable and efficient way to create clean, reliable data that investors can rely on. Clarity AI has trained state-of-the-art machine learning algorithms leveraging input from sustainability experts and is the only sustainability tech provider in the market with a sophisticated machine learning reliability algorithm. Moreover, the algorithms and models only get better and better with time and continuous care from advanced technology experts, because when a data point is detected as non-reliable, it is sent for external review (i.e., to the team of experts) and corrected if necessary. Then, this data will enter back the system and further train and improve the model in a virtuous cycle.

—------------

About Clarity AI

Clarity AI is a sustainability technology platform that uses machine learning and big data to deliver environmental and social insights to investors, organizations, and consumers. As of August 2022, Clarity AI’s platform analyzes more than 50,000 companies, 320,000 funds, 198 countries, and 188 local governments – 2-13 times more than any other player in the market – and delivers data and analytics for investing, corporate research, benchmarking, consumer e-commerce and reporting. Clarity AI has offices in North America, Europe, and the Middle East, and its client network manages tens of trillions in assets under management. clarity.ai

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Contact
Edelman
clarityAI@edelmansmithfield.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

DC Secretary Announces Annual Determinations Committees Outcome28.3.2024 21:14:00 CET | Press release

DC Administration Services, Inc. has today announced the composition of five regional Determinations Committees (DCs), effective from April 27, 2024. Voting Dealers (for all regions): Voting Non-Dealers (for all regions): Bank of America N.A. Citadel LLC Barclays Bank plc Elliott Management Corporation BNP Paribas Pacific Investment Management Company LLC Citibank, N.A. Deutsche Bank AG Goldman Sachs International JPMorgan Chase Bank, N.A. Voting Dealer for the Americas, EMEA, AEJ, and Japan Determination Committees: Mizuho Securities Co., Ltd. The process for selecting DC members is specified in the DC rules. The DC rules, along with more information about the Determinations Committees and what they do can be found at the Determinations Committees website: https://www.cdsdeterminationscommittees.org/. View source version on businesswire.com: https://www.businesswire.com/news/home/20240328441002/en/Contact information Press Inquiries: Orlando Figueroa orlando.figueroa@citadelspv.com

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 16:00:00 CET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 15:00:00 CET | Press release

Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400 m

HiddenA line styled icon from Orion Icon Library.Eye