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KPMG and Context Labs have teamed up to bring machine learning and artificial intelligence-enabled distributed ledger technology to companies looking to better measure and shrink their environmental footprints.
The companies announced on April 26 the formation of an alliance to join the advanced technology of Context Labs, which provides blockchain-enabled platform solutions, with KPMG’s environmental monitoring, analytics and reporting expertise.
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,” KPMG said in a news release.
The partnership comes amid a global focus on the climate. Energy companies and others have set ambitious decarbonization targets, taking steps to track emissions and lower them using accurate emissions data and analysis.
“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,” KPMG’s Rob Fisher, U.S. ESG leader, said.
Williams is among the companies using Context Labs’ Decarbonization-as-a-Service platform to track and measure emissions.
“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 Context Labs CEO Dan Harple. “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.”
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