C02 Labs Receives Chainlink Grant to Build Web Application to Foster Mining Industry ESG Compliance.
The mining industry, currently comprised of various types of mineral and precious material miners, is currently undergoing a rapid transformation in order to meet increasingly demanding climate goals, with many of the world’s largest miners recently pledging to reach net-zero carbon emissions by 2050. The global mining industry collectively releases hundreds of millions of metric tons of carbon dioxide into the environment yearly, and drastically reducing these emissions is vital to addressing the threat of climate change. Yet the mining industry has been slow to adopt new technology for multiple reasons, including a lack of engagement from external stakeholders, production risks, and training requirements.
To help promote more environmentally sustainable mining practices, They are pleased to announce that the Chainlink Community Grant Program is awarding C02 Labs with a social impact grant. Through this grant, C02 Labs will design and build an easy-to-use, transparent, and ESG-compliant web application that uses Chainlink oracles to provide insight into the climate practices of miners. Mining companies can drag and drop internal compliance data into this application, and the data will then be filtered and made accessible through an API. Through this API, Chainlink oracles can perform GET requests, parse the JSON file, apply specific transformations, and then make the output available to blockchains using a particular file type for enhanced reliability.
C02 Labs aims to complete the following deliverables as a result of this grant initiative:
- Research key mining stakeholders and develop a framework to comply with industry best practices
- Simulate a major miner’s supply chain connected to Chainlink using data inputs provided by the company
- Develop a web page with an API exposing compliance data posted through the mining company’s website to showcase transparency
- Deploy a smart contract that processes and publishes data designed to meet specific mining compliance requirements
- Create a case study or slide deck to highlight the use case to potential partners