New Global Coalition Carbon Measures Aims To Fix Flawed Emissions Accounting

KUALA LUMPUR, Oct 21 (Bernama) -- Carbon Measures, a new global coalition representing major businesses from diverse industries and geographies, has been launched to establish a more accurate carbon accounting framework and drive market-based solutions to reduce emissions at the lowest cost.

The coalition’s work will leverage sound science and the principles of financial accounting to help enable a ledger-based carbon accounting framework that is substantially more accurate, eliminates double counting and addresses current information gaps.

By better tracking emissions through the global economy, this new framework will help businesses differentiate their products and governments make more informed policy decisions, according to a statement.

Calling for a new policy that unlocks innovation, competition and the power of the market, Carbon Measures will focus on advancing the carbon accounting framework while prioritising designing carbon intensity standards for key industrial products that form the basis of most supply chains and collectively account for the majority of global emissions.

Amy Brachio takes the helm as Carbon Measures Chief Executive Officer after nearly three decades at Ernst & Young LLP (EY), where she most recently served as Global Vice Chair, Sustainability, bringing deep expertise in risk management, regulatory compliance, and sustainability.

“Carbon Measures wants to create a system that will unleash markets and competition, unlocking investment and accelerating the pace of emissions reduction – ultimately driving the kind of enduring change the world demands,” said Brachio.

Among the initial member companies of the coalition include ADNOC, Air Liquide, Banco Santander, BASF, Bayer, CF Industries, EQT Corporation, ExxonMobil, EY, and Honeywell with additional companies to be announced.

-- BERNAMA