A group of major global corporations has launched Carbon Measures, a new coalition designed to build a more reliable, transparent, and verifiable global carbon accounting framework. Announced in New York on October 20, the initiative brings together leading players across energy, finance, and manufacturing to develop market-based systems that accurately measure and reward emissions reduction efforts.
The coalition’s approach centres on the idea that what cannot be measured cannot be managed. For decades, carbon accounting has depended on estimates and voluntary commitments, tools that often lack the precision needed to drive genuine emissions reductions. Carbon Measures aims to change that by using a ledger-style system inspired by financial accounting, capable of tracking emissions through every stage of the value chain. The goal is to eliminate double counting, close data gaps, and give both policymakers and businesses a stronger foundation for decision-making.
Amy Brachio, the former Global Vice Chair for Sustainability at Ernst & Young (EY), has been appointed Chief Executive Officer of the coalition. With nearly three decades of experience in sustainability and risk management, Brachio brings both corporate and technical credibility to the role. In announcing her new position, she noted that “good data leads to good decisions” and that the world can no longer rely on “a system built on goodwill and estimates.” The coalition, she said, intends to “unleash competition and accelerate emissions reduction through reliable data that can drive markets.”
The founding members of Carbon Measures include ADNOC, Air Liquide, Banco Santander, BASF, Bayer, CF Industries, EQT Corporation, ExxonMobil, EY, Global Infrastructure Partners (a division of BlackRock), Honeywell, Linde, Mitsubishi Heavy Industries, Mitsui & Co., Mitsui O.S.K. Lines, NextEra Energy, Nucor, the Port of Rotterdam, and Vale. Each of these companies represents sectors that are both high in emissions and crucial to the global transition, energy, heavy industry, logistics, and finance.
The coalition’s focus will extend beyond accounting methods to the development of product-level carbon intensity standards for materials that form the backbone of the global economy, including electricity, fuel, steel, concrete, and chemicals. By setting verifiable benchmarks at this level, the group hopes to help governments and companies build systems where low-carbon products are rewarded, and emissions-heavy processes face economic pressure to adapt.
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François Jackow, Chief Executive Officer of Air Liquide, described the effort as “the kind of collaboration needed to push collective climate action to the next level.” Similarly, Banco Santander’s Executive Chair Ana Botín emphasised that accurate calculation of carbon emissions “is the foundation for meaningful climate action” and that the coalition seeks to build “a globally comparable way to calculate carbon intensity comprehensively across each step of the value chain.” ExxonMobil’s CEO, Darren Woods, echoed this point, adding that standard carbon accounting “encourages competition, leverages each company’s strengths, and mobilises market forces to meet growing energy demand while lowering emissions.”
For Africa, the initiative holds particular importance. As global markets begin to require verified emissions data at the product level, from raw materials to manufactured goods, African exporters and industries will increasingly need to demonstrate transparency in their carbon footprints. This trend is already visible in the European Union’s Carbon Border Adjustment Mechanism, which demands accurate emissions disclosures from exporters. The establishment of a global carbon accounting framework could make it easier for African producers to meet these requirements and attract investment into cleaner, data-backed production systems.
Africa’s emerging carbon markets may also benefit indirectly. With stronger frameworks for emissions tracking, projects across the continent, from renewable energy to reforestation, could see enhanced credibility and access to international finance. Reliable accounting is a prerequisite for scaling carbon markets, and Carbon Measures may help set the standards that determine which projects attract investor confidence.
Integrating such a framework into existing systems like the Greenhouse Gas Protocol will take time and consensus. The complexity of global supply chains makes emissions tracking difficult, and aligning corporate, scientific, and policy interests is no small task. Coalition leaders expect the development of the framework to unfold over several years, with pilot projects and standardization efforts paving the way for adoption.
The launch of Carbon Measures underscores a broader shift in how climate action is being framed, from pledges and offsets toward verifiable, data-driven accountability. For sustainability leaders, the message is clear: precision in measurement is no longer optional; it is the currency of credibility.
As the world searches for ways to reconcile growth with climate responsibility, Carbon Measures signals a pragmatic turn, one that blends market logic with environmental discipline. For Africa and the global south, where emissions remain low but climate vulnerability high, the initiative offers a chance to participate in a future where transparency and trust define the global carbon economy.
