More Information

Dr Heng-Soon Gan, Melbourne Operations Research (MORe) Director, University of Melbourne, Ph: (03) 8344 4651, Email: hsg@unimelb.edu.au

Mr Nick Stanley, CARBONcontrol Business Director, (03) 5221 5535,

Dr Nerissa Hannink, Media Office, University of Melbourne, Mob: 0430 588 055, nhannink@unimelb.edu.au

University of Melbourne mathematicians have developed a software tool to help maximize investment and minimize the cost of carbon emissions compliance.

The tool - the first of its kind in Australia - will help businesses operating in a carbon constrained environment such as under the Carbon Pollution Reduction Scheme.

By inputting carbon reduction targets such as an Emission Trading Scheme (ETS), CarLO (Carbon Liability Optimiser) selects the projects a company should undertake to maintain profits but limit emissions, and then schedules them over a long-term horizon.

CarLO was developed by Dr Heng-Soon Gan and Mr Brendan Kite from the Melbourne Operations Research (MORe), a consulting group based in the Department of Mathematics and Statistics, University of Melbourne.

“The CarLO tool enables organisations to easily formulate a strategy for reducing and offsetting their carbon liability, and better account for their emissions liability when making investment decisions across all areas of their business,” says Dr Gan.

Melbourne Ventures, the commercialisation arm of the University of Melbourne, has identified a commercial partner in CARBONcontrol, a company which specialises in producing enterprise software that helps companies in Greenhouse Gas Emissions inventory management.

CARBONcontrol business director, Mr Nick Stanley, says CarLO, in combination with the CARBONcontrol system, brings together highly advanced optimisation techniques with proven enterprise-level software to provide an innovative and flexible approach to carbon emissions abatement and management, offering organisations of all sizes a fully integrated solution to their emissions management problems. 

“The system offers substantial benefits both in terms of tracking and recording a carbon footprint as well as technology now aimed at reducing that footprint cost effectively.”

CARBONcontrol are currently canvassing organisations interested in becoming a partner for the implementation and setup of this ground-breaking system.