The initiative aims to develop a collective roadmap for a reliable and interoperable greenhouse gas emissions accounting system; welcomes a senior advisor.
We can’t fix what we can’t measure robustly, and reliable measurement and accounting of greenhouse gas (GHG) emissions is critical to climate accountability. There is still a big gap between what is emitted and reported when it comes to some GHG emissions. Only last week, the International Energy Agency flagged that methane emissions from the energy sector are about 70% higher than reported in official data, reflecting huge strides in improved measurement, including better satellite monitoring. When it comes to companies specifically, a 2021 BCG survey found that companies estimate a 30% to 40% average error rate in their emissions measurements.
To address some of these issues, especially on corporate reporting of emissions, ClimateWorks Foundation and over 20 leading organizations recently announced a new initiative, the Carbon Call, that will focus on improving reliability and interoperability in carbon accounting for the planet. We’re excited to work with others to strengthen the foundations for carbon accountability and advance a reliable, global system of interoperable GHG ledgers.
We have brought on JC Seghers as a senior advisor where he will act as the global representative of the initiative, responsible for strategic direction and ensuring progress against the initiative’s objectives. In particular, JC brings experience working with governments and businesses on GHG emissions accounting and will further refine how the initiative will hold itself accountable.
Seghers notes, “while corporations, non-profits, scientific, and philanthropic communities have made progress on standard-setting, inventories, and public disclosure, there is work to do to tie it all together.”
To this end, we will be working closely with the participating organizations to develop a collective Carbon Call roadmap for increased reliability and interoperability in our GHG accounting systems by COP27.
With more complex financial and regulatory instruments, the demand for accurate GHG accounting is rapidly growing.
We will also be working with the founding signatories of the Carbon Call to clarify the criteria and timeline by which we will track our collective progress. We are heartened by the overwhelming interest in this initiative, and the Carbon Call will be announcing new signatories in early Spring.
Stay tuned for periodic updates. Contact us to learn more about becoming a Carbon Call signatory or participant.