Intertek to Provide Data Quality Assurance and Carbon Intensity Certification in Xpansiv’s new Digital Crude Oil Platform
19 Apr 2022
Houston, Texas, USA - Intertek, a leading Total Quality Assurance provider to industries worldwide, is proud to join Xpansiv’s new Digital FuelsTM Program and deliver data quality assurance, carbon intensity benchmarking and independent certifications.
Xpansiv, the global marketplace for ESG commodities, recently launched Digital Crude Oil™ (DCO), the latest addition to the company’s Digital Fuels (DF) Program. DCO units registered on the Xpansiv DF Registry enable markets to differentiate crude oil based on greenhouse-gas emissions and ESG performance.
Intertek, as DCO certification partner, will utilize its independent carbon emissions intensity certification program, CarbonClear, as the methodology for delivering the greenhouse gas (GHG) emissions transparency (and confidence) that buyers, sellers and traders are looking for. CarbonClear provides a unique platform to evaluate emissions across all stages of exploration and production and deliver a consistent cradle-to-gate validation of the GHG impact of producing one barrel of oil equivalent (boe) per field or across a company’s portfolio.
The inaugural DCO units will be registered from Lundin Energy’s North Sea production, representing carbon intensity and other key environmental attributes for individual barrels of oil. Lundin Energy received the world’s first Intertek CarbonClear certification for its Edvard Grieg field and has also received Intertek’s CarbonZero certifications for its carbon neutral production on the Edvard Grieg and Johan Sverdrup fields.
The Intertek and Xpansiv partnership highlights the companies’ commitment to supporting the energy transition while enabling new ways to qualify, market and inspire action toward decarbonizing a barrel of oil – from production to point of sale. Utilizing trusted and independent certification programs such as Intertek CarbonClear, exploration and production companies can benchmark and track their GHG emissions, differentiating their product in the market and with customers.
Malissa Boudreaux, Intertek SVP Total Energy, said “We are excited to partner with Xpansiv in such an important global trade platform. Certification and GHG emission validation present ways for companies to ensure their portfolio and supply chains are meeting climate targets while also differentiating and elevating their production value with lowered carbon emissions. Total transparency will generate trust from all stakeholders in the sustainability journey, and Intertek is proud to be a part of the energy industry’s journey.”
“We welcome Intertek as a partner in our Digital Fuels Program," said Xpansiv Sustainability Director Jeff Cohen. "The confluence of Xpansiv’s digital-commodities platform and Intertek’s quality-assurance experience enables unprecedented emissions transparency. Digital Crude Oil empowers the industry to accelerate—and profit from—low-carbon production."
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CarbonClear and CarbonZero Program Manager
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Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices in more than 100 countries delivers innovative and bespoke Assurance, Testing, Inspection, and Certification solutions for our customers' operations and supply chains. Intertek Total Quality Assurance expertise—delivered consistently with precision, pace, and passion—enables our customers to power ahead safely.
Xpansiv is the global marketplace for ESG-inclusive commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the largest spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas; H2OX, the leading spot exchange for water; XSignals, which provides end-of-day and historical market data; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge.