As many as 20 major companies on Thursday last week announced an initiative to accelerate the development of reliable and interoperable carbon emissions accounting to help the world reach net zero by mid-century. The “Carbon Call”, as it is known, is a collaboration of leading companies that aims to improve the accuracy and interoperability of carbon accounting for the Earth, to mobilize around collective actions and to attract investment and resources from scientists, businesses, philanthropists and intergovernmental organizations to enable access to reliable scientific data and data that can be exchanged between carbon accounting systems.
As we know, carbon accounting today suffers from data quality issues, inconsistencies in measurement and reporting, and infrastructural challenges. These issues make it difficult to compare, combine and share reliable emissions data, especially for businesses. In fact, according to Washington Post research, the gap in underreported greenhouse gas (GHG) emissions “runs from at least 8.5 billion to 13.3 billion tons per year.” Therefore, climate responsibility requires accurate measurement and accounting of GHG emissions.
The Carbon Call would uncover and fill gaps in existing global carbon accounting systems, focusing on carbon removal and the land sector, methane and indirect emissions. The group would also work to identify where more accurate information is needed to improve reliability and advance interoperability by design – both in carbon accounting reports (or registries) and the data ecosystems that support them. Participating companies in the Carbon Call would also work to advance the development of universal accounting methodological standards, enabling broader access to reliable GHG emissions and strengthening the interoperability of digital accounting infrastructures.
Carbon Call signatories also support the creation of favorable conditions for a more reliable global system of interoperable carbon accounting reports (or registries). To this end, signatories agree to submit GHG emissions and offset data in a comprehensive and open manner, encompassing all scopes and classes of GHG emissions. The results of the coalition will be widely publicized.
The Carbon Call is organized by the ClimateWorks Foundation and participating organizations include Capricorn Investment Group, Climate Change AI, Corporate Leaders Group Europe, Global Carbon Project, Global Council for Science and the Environment, International Science Council, LF Energy, Linux Foundation, Microsoft , Mila, Skoll Foundation, Stanford Woods Institute for the Environment, United Nations Environment Program (collaborating organization) and United Nations Foundation. Capricorn Investment Group, EY, GSK, KPMG and Wipro are among the signatories.
The opinions expressed above are those of the author.
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