Global coalition launches to overhaul carbon accounting

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🗞️ Driving the news: A new global coalition, Carbon Measures, has been launched by major industrial and financial players including ExxonMobil, BASF, ADNOC, Banco Santander, and NextEra Energy
• The initiative aims to overhaul the fragmented state of carbon accounting by creating a standardized, ledger-based emissions framework
• The system will be modeled on financial reporting standards to enable accurate, comparable, and product-level emissions data across global supply chains

🔭 The context: Current carbon accounting practices are inconsistent, largely voluntary, and vulnerable to double-counting — undermining the integrity of climate targets and carbon markets
• Despite growing regulatory pressure and rising corporate climate pledges, the lack of standardized data continues to stall progress
• Carbon Measures seeks to bring financial-grade precision to carbon reporting, enabling capital markets to reward lower-carbon innovations and support credible decarbonization

🌍 Why it matters for the planet: Reliable, granular emissions data is a prerequisite for effective climate policy, supply chain accountability, and functioning carbon markets
• By focusing on high-emitting sectors like steel, fuels, cement, and chemicals, the initiative targets industries that account for a significant share of global GHG emissions
• A consistent and science-based accounting framework could accelerate climate action by driving investment toward genuinely low-carbon products and penalizing greenwashing

⏭️ What's next: Led by former EY executive Amy Brachio, the coalition will first develop a unified global carbon accounting framework and carbon intensity standards for key industrial products
• Engagement with policymakers, civil society, and academia is planned to integrate the standards into market and regulatory systems
• If successful, Carbon Measures could catalyze a new generation of carbon markets based on verified and comparable data

💬 One quote: “Carbon Measures intends to create a system that unleashes competition and investment—accelerating the pace of real-world emissions reduction.” – Amy Brachio, CEO of Carbon Measures

📈 One stat: Heavy industrial sectors — targeted by Carbon Measures — account for more than 50% of global greenhouse gas emissions

See on illuminem's Data Hub™ the sustainability performance of companies like ExxonMobil, BASF, and ADNOC

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