Occidental Petroleum. has filed a patent for a system and method that enables the tracking and transfer of carbon emissions associated with a product or service. The system includes a logical layer with various modules for capturing and monitoring carbon emission data, as well as an API gateway for interfacing with external systems. The patent aims to create a trusted system for accounting and reducing greenhouse gas emissions. GlobalData’s report on Occidental Petroleum gives a 360-degree view of the company including its patenting strategy. Buy the report here.

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According to GlobalData’s company profile on Occidental Petroleum, Power-to-gas system was a key innovation area identified from patents. Occidental Petroleum's grant share as of September 2023 was 72%. Grant share is based on the ratio of number of grants to total number of patents.

A system for tracking and managing carbon emissions data

Source: United States Patent and Trademark Office (USPTO). Credit: Occidental Petroleum Corp

A recently filed patent (Publication Number: US20230298042A1) describes a system that enables the capturing, monitoring, tracking, and public declaration of carbon emission data associated with real-world products or services. The system includes a logical layer with various library modules, such as a process library, a Reference Unit Library, a Defined Unit Inventory, and an Attribute Library. These modules allow for the management of emission data, including the instantiation and storage of Reference Units, the inventorying of Defined Units, and the inclusion of attribute dimensions and tags.

The system also features an application programming interface (API) gateway that facilitates communication between the logical layer and a representational layer. The API gateway is configured with an extensible Carbon Reporting Markup Language (CRML) that enables software interfacing with the logical layer. The CRML includes a core set of common data schema and message types, as well as interface objects for extensible carbon objects and integration with third-party external systems.

Additional library modules in the system include a Conversion Library, which provides conversion information for environmental carbon attribute data, and a Life Cycle Inventory (LCI) library database, which stores environmental embodied CO2e records for the life cycle of an item or process. The system also includes a relational database for carbon data transactions and a distributed immutable ledger.

Furthermore, the system incorporates a display layer interface with a display manager user interface and a report manager. The display manager allows users to input data to a storage and compute layer, while the report manager generates GHG life cycle digital twins for products or processes in the form of structured data object reports or assignable certificates. These certificates have machine-readable codes associated with Defined Units and can be recorded to a public ledger.

The patent also describes a method for gathering, accounting, recording, tracking, displaying, and transferring embodied CO2e of a product or service. This method involves configuring the various library modules and the report manager to enable the desired functionalities. The method also includes the use of environmental carbon attribute data, such as carbon credits or offsets, to reduce the declared embodied CO2e of a product or service.

Overall, this patent presents a comprehensive system and method for managing carbon emission data and generating reports and certificates for public declaration and tracking purposes. The system's modular design and integration with external systems make it a potentially valuable tool for organizations seeking to monitor and reduce their carbon footprint.

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GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.