Talking emissions accounting with Carbon Measures (Ep. 243)

Carbon Measures is launching a radical new approach to emissions accounting by applying the rigor of financial accounting to carbon data, creating a ledger-based system that tracks emissions across global supply chains with precision. Unlike existing frameworks like the GHG Protocol, which focus on enterprise-level risk, Carbon Measures aims to deliver product-level carbon intensity data that can be trusted on invoices, used in transactions, and withstand legal scrutiny. The initiative, led by former EY sustainability chief Amy Bracchio, is backed by 26 global members including BASF, Exxon, and Santander, and is building a technical expert panel with 25 international specialists to define the rules of this new accounting system. The vision is to create a globally interoperable framework—modeled on IFRS—that enables carbon intensity standards at the national level, driving innovation and competitiveness in early-stage industries like steel, cement, and ammonia. With support from McKinsey and Resources for the Future, the group aims to publish foundational papers by October 2026, setting the stage for a market-driven transition to low-carbon economies. The core breakthrough lies in treating CO2 emissions as a measurable, transferable unit—like currency—where every ton of steel or fuel carries its embedded carbon footprint from origin to end use. When emissions are captured, they’re subtracted from the ledger, creating a dynamic, auditable record.