A new coalition of multinational companies called Carbon Measures launched Monday to develop a global carbon accounting framework and promote market-based approaches to cut emissions at the lowest cost.
The initiative brings together companies from energy, finance, chemicals and manufacturing to build a ledger-based system for measuring emissions.
The proposed carbon accounting framework aims to eliminate double counting, close data gaps and improve the accuracy of emissions tracking across supply chains.
Carbon Measures said the system would help companies differentiate products by their carbon intensity and give governments better data for policymaking.
“Good data leads to good decisions,” said Amy Brachio, the coalition’s newly appointed chief executive. “The world needs a system that unleashes markets and competition, unlocking investment and accelerating emissions reduction.”
Amy Brachio to Lead the Coalition
Brachio, the former global vice chair of sustainability at Ernst & Young, brings nearly 30 years of experience in risk management, regulatory compliance and sustainability.
At EY, she helped the firm achieve a 40 percent emissions reduction and advised thousands of clients on climate strategies.
She said the coalition’s goal is to replace the current “system overly reliant on estimates and voluntary commitments” with a verifiable, market-driven framework.
Founding members include ADNOC, Air Liquide, Banco Santander, BASF, Bayer, CF Industries, EQT Corporation, ExxonMobil, EY, Global Infrastructure Partners (a part of BlackRock), Honeywell, Linde, Mitsubishi Heavy Industries, Mitsui & Co., Mitsui O.S.K. Lines, NextEra Energy, Nucor, the Port of Rotterdam and Vale. More members will be announced later.
The coalition plans to first focus on designing carbon intensity standards for industrial materials such as electricity, steel, fuel, concrete and chemicals, which make up most global emissions.
Leaders Call for Common Standards
Executives from member companies voiced support for harmonized measurement systems.
“To drive collective action, we need harmonized product-level carbon intensity standards supported by accurate carbon accounting,” said François Jackow, CEO of Air Liquide. “By working together, we can drive emissions down while meeting society’s needs.”
Ana Botín, executive chair of Banco Santander, said the initiative will “create a reliable, globally comparable way to calculate carbon intensity” and “accelerate the transition” by providing a consistent market benchmark.
ExxonMobil CEO Darren Woods added, “If you can’t measure it, you can’t manage it. A standard methodology will mobilize market forces to meet energy demand while cutting emissions.”
Advancing Market-Based Climate Policy
Carbon Measures said it will advocate for policies that reward low-carbon production and encourage competition. The group believes that verified carbon intensity data can form the basis for product-level markets, allowing companies that invest in cleaner production to benefit financially.
“Nucor is proud to be a founding member,” said Leon Topalian, Nucor’s chair and CEO. “A consistent carbon accounting framework is critical to ensuring comparability across industries and driving credible progress toward emissions reduction.”
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