EDM Council, a cross-industry trade association to advance data management and analytics best practices, is collaborating with Fiùtur, a leading digital trust network for the energy transition economy, to launch a strategic initiative to deliver open, trusted standards to drive information transparency, facilitate capital allocation and reduce risk in the rapidly evolving transition economy.
The current data landscape for energy transition assets suffers from fragmentation, incompleteness, and incompatibility. To bridge this gap, the EDM Council’s Data Innovation Lab and Fiùtur are joining forces to establish an industry working group to develop a foundational set of sustainability identifiers. This collaboration will leverage open-source technology and ontology-based knowledge graphs to ensure seamless interoperability at the asset level, initially focusing on key use cases such as the hydrogen supply chain but ultimately designed to holistically encompass the energy transition landscape.
The new standards and governance framework will enable participants in the transition economy to standardize outcomes and processes to increase the value of producing assets’ claims, while allowing capital providers to make informed decisions on transition investments.
“Trillions of dollars of finance are needed to respond to global demand for sustainable products,” says Joe Madden, CEO of Fiùtur. “At the core of efficient transition capital allocations are new risk evaluation and governance rules for producing-asset level data and verifiable transition attributes. Fiùtur is proud to partner with EDM Council to address this challenge and build strong foundations for the required Trust Infrastructure.”
The platform supporting EDM Council’s Data Innovation Lab Program has successfully driven prior open industry knowledge graph standards efforts in industries including finance (FIBO), pharmaceuticals (IDMP), automotive (AUTO) and digital manufacturing (NIST). Fiùtur’s platform and ecosystem enable real-world outcomes to flow through to the financial markets through partnerships with innovative technology providers such as Nammu21.
“Accurate, complete and connected data is critical to driving energy transition and advancing sustainability,” said John Bottega, President, EDM Council. “The EDM Council is excited to partner with Fiùtur to develop a framework of standard identifiers that will allow stakeholders to have a clear, consistent understanding of the value of assets to invest in and support the transition.”
EDM Council and Fiùtur are calling on their respective communities to actively participate. For further information please contact info@edmcouncil.org at EDM Council and info@fiuturx.com at Fiùtur.
About EDM Council
EDM Council is the global association created to elevate the practice of data management and advanced analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 350 member organizations globally from the Americas, EMEA, and Asia, and more than 25,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, explore edmcouncil.org and follow us on LinkedIn and Twitter.
About Fiùtur
Fiùtur has developed an open architecture to enable the programmatic encoding of governance and commercial terms across transparent, digitally enforced and automated measurement, reporting and verification (dMRV) protocols to deliver provable, real-world outcomes to global markets. The Fiùtur ecosystem incorporates financial institutions and other capital providers, proprietary and public data sources, insurers, technical firms, certification bodies, industry players, project developers, environmental-commodity registries and markets, corporates, and a myriad of others. To find out more about Fiùtur, please visit www.fiuturx.com.