14 September 2020
Canadian fintech firm Oxia Initiative designs tools and methodologies that allow the transparent measurement of environmental impacts of investments.
Oxia's CARBOSCOPE is an online platform that provides investors and governments with the information and data needed to assess the carbon impact of investment strategies across their portfolio of different sectors.
It achieves this by conducting Positive Carbon Impact Screening, which assesses the reduction or avoidance of greenhouse gas (GHG) emissions, and Carbon Risk Analysis, which identifies a portfolio's exposure to carbon and climate-related risks.
The tool also includes automated data collection and quantification through an algorithm generated with the use of artificial intelligence, which then generates a carbon footprint evaluation report.
This allows investors to assess impact, monitor progress and take corrective action, if necessary.
Operating in line with the international standards, such as ISO 14064 and GHG Protocol, the tool can quantify both emissions and avoided emissions.
Since its launch, Oxia has conducted pilot projects with two Canadian financial institutions: venture capital fund Ecofuel and private equity firm Fondaction, in order to further test and develop the platform.
"These pilot projects have established a strong foundation and provide a great platform for the large scope and abilities of CARBOSCOPE, ranging from measuring, monitoring and tracing the carbon impacts to benchmarking with industry peers, [and conducting] carbon risk and scenario analysis," commented Emmanuelle Tavernier, founder of Oxia Initiative.