Petrobras Tests Blockchain to Boost Transparency in Renewable Fuel Benefits
The Brazilian state-owned energy company Petrobras is testing the Cardano blockchain technology to track the environmental benefits of renewable fuels.
Two projects are underway, one focusing on sustainable aviation fuel (SAF) and the other on Petrobras' Diesel R, a fuel made partially from renewable sources such as vegetable oils or animal fats.
The SAF project aims to address the problem of double-counting environmental benefits when selling green fuels. The 'book-and-claim' system allows airlines to claim credits for using sustainable fuels, even if they're not actually used by that airline.
The Cardano blockchain can help track the origin and use of these credits, reducing the risk of double-counting and providing a more accurate picture of the environmental benefits.
In the case of Diesel R, the blockchain technology would be used to track the fuel's entire journey from production to consumption. This could also help companies report Scope 3 emissions, which are indirect emissions related to their supply chain or customers.