The initiative supports the goal to provide SOC1 and SOC2 reports for customers.
DENVER, March 23, 2022 /PRNewswire/ — Project Canary, the Denver-based climate tech and environmental data analytics company, announced an initiative to add performance proof verification of data and operating standards by a Big Four firm and assessment by the Payne Institute at the Colorado School of Mines. These initiatives are intended to ensure independent verification and assessment of data and operating standards, meeting the needs of customers that request additional assurances about the controls in place at Project Canary.
- Net-zero needs proof and independent data; Project Canary’s performance proof initiative provides absolute confidence that their procedures are independently verified through trusted third-party sources.
- System and Organizational Controls (SOC) reports utilize independent, third-party auditors to examine various aspects of a company to provide added assurance that an organization’s controls are designed and operating effectively.
- Additionally, the Payne Institute at the Colorado School of Mines will perform a third-party assessment of all Project Canary internal controls and data analysis.
Project Canary has engaged the services of a Big Four audit and consulting firm to assess their internal standards, procedures, controls, and technology supporting their solutions. Project Canary delivers trusted, independent third-party ESG data and holistic environmental assessments (factoring in: air, water, land, and community variables) in the upstream and midstream oil and gas sectors. This audit initiative supports Project Canary’s goal of providing SOC1 and SOC2 reports to customers who require additional validation. Utilizing independent, third-party auditors to examine various aspects of a company, SOC reporting offers added trust and transparency to customers that the service organization has the appropriate controls and structure for business processes.
Additionally, Project Canary has partnered with the Payne Institute to offer a separate assessment program to meet customer needs. The Payne Institute will perform third-party assessments of all Project Canary internal controls and data analysis. The Payne Institute is one of the nation’s most prestigious energy-focused institutions, and Project Canary is excited to expand its partnership with an organization dedicated to solving climate change.
“The Measurement Economy is here, and you’re either preparing for it or being left behind as ESG leaders emerge. Our customers can now choose an additional layer of 3rd party data review to produce unassailable emissions performance reports,” said Project Canary CEO and Co-founder Chris Romer. The company recently participated in several CERAWeek sessions. “You can’t simply say you’re independent and producing high-fidelity data – you have to prove it.”