NEW YORK -- Carbon Measures, a new global coalition representing major businesses from diverse industries and geographies, launched to establish a more accurate carbon accounting framework and drive market-based solutions to reduce emissions at the lowest cost.

The coalition’s work will leverage sound science and the principles of financial accounting to help enable a ledger-based carbon accounting framework that is substantially more accurate, eliminates double counting and addresses current information gaps. By better tracking emissions through the global economy, this new framework will help businesses differentiate their products and governments make more informed policy decisions.

Carbon Measures is calling for new policy that unlocks innovation, competition and the power of the market. Global carbon emissions are rising and will continue to increase unless effective, efficient and pragmatic policies are implemented. Product-level carbon intensity standards, based on verifiable data informed by an enhanced emissions accounting framework, can create markets in which businesses are rewarded for investing in low-carbon production.

Carbon Measures will focus on advancing the carbon accounting framework. Additionally, for maximum impact, the coalition will prioritize designing carbon intensity standards for key industrial products - such as electricity, fuel, steel, concrete and chemicals - that form the basis of most supply chains and collectively account for the majority of global emissions.

Amy Brachio takes the helm as the CEO of Carbon Measures after nearly three decades at Ernst & Young LLP (“EY”), where she most recently served as Global Vice Chair, Sustainability. At EY, she guided the support of thousands of clients on climate and sustainability, led the firm’s 40% emissions reduction goal, and helped establish EY as a global leader in sustainability services. A former leader of EY’s Business Consulting and Risk Management practices, Brachio brings deep expertise in risk management, regulatory compliance, and sustainability.

“Good data leads to good decisions, but for decades, precise and comparable data has proven something of a holy grail in emissions tracking. I’ve had a front-row seat helping businesses struggle with a system that’s been overly reliant on estimates and dependent on voluntary commitments and good intentions to drive market action. That simply won’t be sufficient going forward,” Brachio said. “Carbon Measures wants to create a system that will unleash markets and competition, unlocking investment and accelerating the pace of emissions reduction - ultimately driving the kind of enduring change the world demands.”