Global Coalition Launches to Overhaul Carbon Accounting

 Global Coalition Launches to Overhaul Carbon Accounting

October 20, 2025

A coalition of some of the world’s largest industrial and financial companies — including ExxonMobil, ADNOC, BASF, Banco Santander, and NextEra Energy — has launched Carbon Measures, a new global initiative to establish a standardized and scientifically robust carbon accounting framework designed to accelerate emissions reduction through market forces.

Carbon accounting launched globally

The New York–based coalition, unveiled today, aims to replace today’s fragmented and often inconsistent emissions reporting practices with a ledger-based carbon accounting system modeled on financial reporting standards.

The new framework seeks to eliminate double-counting, fill information gaps, and enable accurate product-level emissions tracking across supply chains.

The launch of Carbon Measures marks one of the most coordinated private-sector efforts yet to modernize carbon measurement and align it with investment-grade standards. By creating transparent and comparable carbon data, the group aims to drive innovation, guide policymaking, and incentivize companies that adopt lower-carbon technologies.

Amy Brachio, formerly Global Vice Chair for Sustainability at Ernst & Young (EY), has been appointed CEO of the coalition. With three decades of experience in risk management, regulatory compliance, and corporate sustainability, Brachio is tasked with steering the group’s mission to make accurate emissions accounting the foundation for effective market-driven climate action.

“Good data leads to good decisions,” Brachio said. “For too long, emissions tracking has relied on rough estimates and voluntary commitments. Carbon Measures intends to create a system that unleashes competition and investment – accelerating the pace of real-world emissions reduction.”

Carbon Measures will prioritize two areas: developing a globally consistent carbon accounting framework, and designing carbon intensity standards for high-emitting products such as steel, concrete, fuels, chemicals, and electricity. These sectors, the group notes, underpin most industrial supply chains and account for the majority of global greenhouse gas emissions.

The founding members span the energy, manufacturing, and finance sectors, reflecting broad cross-industry interest in harmonizing carbon reporting. Alongside ADNOC, ExxonMobil, Air Liquide, BASF, and Nucor, participants include Bayer, CF Industries, EQT Corporation, Honeywell, Linde, Mitsubishi Heavy Industries, Mitsui & Co., Mitsui O.S.K. Lines, Vale, the Port of Rotterdam, and Global Infrastructure Partners (part of BlackRock).

The move comes as global emissions continue to rise despite record investments in renewables and carbon reduction initiatives. Many analysts argue that fragmented carbon data and the absence of consistent standards have hindered progress and discouraged efficient capital allocation toward low-carbon solutions.

Air Liquide CEO François Jackow added that harmonized carbon intensity standards “will reward low-carbon solutions and harness the power of markets,” while Banco Santander Executive Chair Ana Botín called for a “globally comparable” approach to emissions measurement that enables product-level standards and accelerates the transition.

By aligning emissions tracking with financial-grade precision, Carbon Measures aims to lay the foundation for a new generation of carbon markets – ones that prioritize verified data, comparability, and transparency. The coalition plans to work with policymakers, civil society, and academia to embed its framework into future regulatory and market systems.

With Brachio at the helm, the initiative could mark a turning point in how emissions are quantified and priced across industries, a step toward transforming carbon from an accounting burden into a competitive advantage.

Oilprice.com… except images

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