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Remedium Network - Enterprise Emissions Accounting

1. Applicant Information

Fawaz

Abughazaleh

Founder & CEO

AAWA R&D

8125 Jeddah 72086 - 23435

Saudi Arabia

Teammates

Fawaz Abughazaleh - CEO
Yusef Ghouth - CTO

2. Criteria - Applicants Responses 

Which clean technology categories does your innovation cover?

AI, Blockchain & IoT

Please select the category you’re submitting your application for

New Product, New Solution, Other (please specify)

Pilot phase

Please select the phase of your innovation:

Other (please specify)

Pilot phase

3. Questionnaire - Applicants Responses 

Proposal/ Submission Title

Remedium Network - Enterprise Emissions Accounting

Problem Statement

Climate change is a global problem that requires collective efforts to tackle. Countries as well as companies have made Net-0 pledges in an attempt to meet emissions reductions that may avoid the worst of possible climate outcomes.

Many companies, however, do not have records or accounts of their emissions inventories. The process of accounting for GHG emissions is a time-consuming and expensive exercise. Requiring many valuable hours of dedication by a team with the necessary expertise to accurate account of emissions as well as 3rd party consulting in many cases.

Access to emissions accounting software can be difficult for many companies. When available, they tend to be expensive. Arabic speakers do not have a platform for emissions accounting.

Which do you think are the innovative factors of your idea?

- Inexpensive.
- Offers necessary levels of transparency while not compromising corporate privacy.
- Automates inventories in certain cases by integrating with ERP invoicing systems.
- Can further automate by using data from energy management systems (EMS)
- Available for companies of all sizes.
- Available in Arabic and English languages, with the aim of providing it in more languages.
- Enterprise blockchain is used in a unique way.
- Scope 3 emissions data can be passed down the value chain.

Which benefits would your idea bring to the industry?

- It can make climate action and accounting the norm for many people by providing widespread access, educational resources, and emissions databases for anyone to use.

- It can assist in setting-up emissions accounting and reporting systems within companies, big and small.

- It can help customers make informed decisions about which suppliers may have better climate performance.

- It can help establish emissions baselines for companies, as well as plan and track reductions efforts.

To which challenges does your idea provide a solution to?

The issues related to climate action:
- Tackling greenwashing.
- Establishing emissions inventories.
- Setting science-based reductions targets.
- Understanding the emissions architecture of a company for more focused action.
- Provide greater level of environmental transparency for stakeholders.
- Reduce 3rd party consulting costs.
- Communicating Scope 3 emissions up and down the value chain.

4. Supporting attachments and links 

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