Companies are accountable to their stakeholders—investors, employees, customers—who want to scrutinize the company’s impact on the world. Environmental, Social and Governance (ESG) analysis and reporting helps provide valuable insights and create long-term value for stakeholders. ESG reporting and analysis can significantly impact the financial metrics of a company and better inform investment decisions.
Moreover, companies that identify and address ESG risks and opportunities tend to outperform others. This generates access to new pools of capital, builds stronger corporate and employer brands, and promotes sustainable long-term growth, benefiting companies, communities, and investors.
Delivering trusted and reliable independent energy ESG data, Project Canary fills the missing role of an environmental credit rating agency. The company stands as the leader in the certification of responsible operations throughout the energy value chain, waste management, and agricultural sectors. They provide measurement-based emission profiles via continuous monitoring technology and setting the highest bar for operational certifications.
Leveraging technological advancements and engineering expertise, the collection of real-time, dynamic data is now possible. This can be used by the energy supply chain, waste management, and agricultural sectors to better understand operations, make changes on the go, and ultimately be more transparent about risks and impacts. Moreover, this data is more reliable, real-time, and accurate than estimates and periodic assessments derived using the previous generation of intermittent monitoring and mitigation.
The customers own the data, and hence they can strategize accordingly to meet their own high bar/existing threshold. Project Canary also provides actionable insights to leadership, employees, and investors to use at their own discretion.
Project Canary aims to be the data-driven foundation for the energy, agriculture, and waste management ESG marketplace. This includes gathering data through its continuous monitoring process and SaaS dashboard, while using uncompromising certification technology to inform lending decisions and create differentiated markets based on environmental data. The entire process accelerates progress to net-zero emissions for various industries. Moreover, this data can be tremendously beneficial to the environment. For instance, it can be targeted to mitigate methane—which is 85x more potent than carbon.
Distinctive Core Values
Project Canary offers two core services:
● Continuous real-time emissions monitoring via hardware in the field and a SaaS dashboard
Non-continuous events account for a majority of emissions. Critically, Project Canary constantly monitors to detect all emissions, unlike drone flyovers or satellites. For accurate detection, the company uses technology with a high level of precision and accuracy.
● Operational Certification
In certification, the company’s approach is focused on risk mitigation. First, it identifies the associated risks faced by a company in terms of its environmental impact. It further evaluates the controls of the companies to mitigate those risks, including engineering and operational controls. Project Canary looks at 600 data points and localizes water, air, land, and community impacts. Project Canary certification is the highest standard as it is twice more rigorous than any other certification. Moreover, it is also a thoroughly independent source.
The Operational Team
The leadership board of Project Canary is ushered by Chris Romer (CEO), Will Foiles (COO), Anna Scott (CSO — Chief Science Officer), and Rachael Shayne (CMO). With visionary leadership and operational expertise, they are attuned to the importance of diverse and inclusive culture as a critical component of the company’s growth.
Aligned Vision and Accomplishments
Project Canary aims to alter the course of the planet’s health and strives to achieve its vision. With a highly motivating mission and a well-versed team, Project Canary is currently identifying areas where it can collectively cast a positive impact on the communities that it operates within. As a certified B-Corp, Project Canary is on the front lines of social good and inculcates its vision in its everyday decision-making process.
The company has been recognized by prestigious outlets such as the “Top 100 Best for the World™” for supporting its employees, including minimal pay differential, diversity, inclusion, and growth (personal and professional), plus community support. Additionally, Project Canary is currently looking at identifying a philanthropic partnership.
Industrial Scenario of Sustainability
With the alarming increase in climate change adversities and global warming, companies must innovate continuously to contribute to a more significant digital transformation that includes ESG. The best operators in specific industries can utilize the highest standards beyond local, state, and federal regulations to mitigate their environmental impacts. Others have the option to use standard practices which fulfill regulatory requirements.
While incentives for adopting more sustainable choices had been slim to date, 2021 has changed the conversation to include a broader understanding of ESG principles and reporting. The latest trend is the demand for more information by financial and community voices under the heading of ESG.
Defining Greentech Space
The ongoing year’s headlines suggest that reduced emissions and environmental impacts can drive companies’ value. In addition, firms such as Engine No. 1 drive companies to see value in their Environmental, Social, and Governance (ESG) metrics, and Sustainability Linked Lending is no longer on the fringe. Therefore, there is a distinct value to investors and shareholders when companies use environmental technologies and apply additional sustainability practices.
This differentiation can be used to demonstrate the increased value of their product. It can also draw increased confidence with potential investors and talent.
Read full issue: The 10 Sustainable Green Tech Companies, 2021