- Palantir Technologies Inc (NYSE:PLTR) and global commodities trader Trafigura will be tracking carbon emissions for the oil and gas sector, Reuters reports.
- They built a platform for oil majors and other commodities firms to vet the environmental impact of their supply chains, applying Trafigura's data to Palantir's operating system, known as Foundry.
- Also Read: Palantir Misses Earnings In Consecutive Quarters, Lags on Q2 Outlook
- For Palantir, the Russian invasion has created the potential for other products it developed, such as secure data transfer across allies.
- The idea grew out of a pilot in 2021. Trafigura's global head of carbon trading approached Palantir with a desire to assess better indirect carbon footprints, known as "Scope Three" emissions.
- Palantir derives almost half its sales from the private sector, with BP PLC (NYSE:BP) among its fossil-fuel extracting customers.
- Price Action: PLTR shares traded lower by 1.75% at $7.87 premarket on the last check Tuesday.
