What's Happening?
Amy Brachio, former Global Vice Chair for Sustainability at EY, has been appointed CEO of Carbon Measures, a new initiative aimed at reforming corporate carbon accounting standards. Supported by major
global firms such as BlackRock, Santander, and ExxonMobil, Carbon Measures seeks to challenge the existing GHG Protocol, which is the current standard for emissions reporting. The initiative aims to address issues like double-counting in emissions reductions and improve the accuracy and transparency of environmental reporting. Brachio's leadership marks a significant shift towards more rigorous and reliable carbon accounting practices.
Why It's Important?
The establishment of Carbon Measures and its challenge to the GHG Protocol is crucial for advancing corporate sustainability efforts. Accurate carbon accounting is essential for assessing climate risks and directing capital towards sustainable projects. By improving emissions data, the initiative can influence investment decisions and regulatory policies, potentially leading to more effective climate action. This development highlights the growing pressure on companies to enhance their ESG reporting and align with global sustainability goals.
What's Next?
Carbon Measures will focus on developing a new framework for emissions reporting, engaging with stakeholders across finance and industry to implement these changes. The initiative may face resistance from entities accustomed to the current standards, but its success could lead to widespread adoption of improved practices. As the debate over carbon accounting standards continues, the initiative's progress will be closely monitored by investors, regulators, and environmental advocates.
