US and EU Look to Blockchain to Track Greenhouse Gas Emissions

The joint U.S.-EU Trade and Technology Council will collaborate on the research and development of technology to track carbon emissions, and will look at blockchain technology as a potential tool for measuring and utilizing lifecycle greenhouse gas (GHG) assessments.

The Trade and Technology Council is a diplomatic forum established by the Biden administration in 2020 that serves to coordinate technology and trade policy between the U.S. and the European Union. The council’s second meeting was held in Paris on Monday, nine months after its first meeting in Pittsburgh.

In a joint statement published Monday, the council reported that one of its working groups – the Climate and Clean Tech working group – would be collaborating on several initiatives related to the reduction of carbon emissions.

One of the aims of the working group is to improve the methodology and process of tracking carbon emissions. The working group will examine the potential of several “emerging technologies,” including blockchain technology, to track emissions more reliably.

Artificial intelligence, machine learning and “Internet of Things” (IOT) technologies will also be considered.

According to the joint statement, the working group aims to begin the deployment of climate change-combating technologies, but what exactly those technologies will be is still unclear.

UPDATE (15:29 UTC): Adds information about the Climate and Clean Tech working group’s plans.