NEW YORK — October 2025 — Some of the world’s largest companies have united behind a single objective: to bring precision, comparability, and market discipline to the way global emissions are measured.
A new coalition, Carbon Measures, has been launched by leading corporations across energy, finance, industry, and logistics to develop a global carbon accounting framework that mirrors the rigor of financial reporting and underpins a new generation of market-based climate solutions.
The coalition’s founding members include ADNOC, Air Liquide, Banco Santander, BASF, Bayer, CF Industries, EQT Corporation, ExxonMobil, EY, Global Infrastructure Partners (part of BlackRock), Honeywell, Linde, Mitsubishi Heavy Industries, Mitsui & Co., Mitsui O.S.K. Lines, NextEra Energy, Nucor, the Port of Rotterdam, and Vale. Additional members are expected to join in the coming months.
A New Framework for a Fragmented System
At the heart of Carbon Measures’ mission is the creation of a ledger-based global carbon accounting system that eliminates double counting, improves accuracy, and allows emissions to be traced through entire value chains. The initiative aims to make carbon data as transparent and verifiable as financial statements—providing a foundation for product-level carbon intensity standards that reward low-emission production and investment.
“The first step to reducing global emissions is to know where they’re coming from—and today, we don’t have an accurate system to do this,” said Darren Woods, Chairman and CEO of ExxonMobil. “A standard carbon accounting methodology provides a necessary foundation for a framework that will encourage competition, leverage each company’s strengths, and mobilize market forces.”
Carbon Measures plans to develop and pilot standards for industrial sectors with the highest global emissions—electricity, fuels, steel, concrete, and chemicals—which collectively anchor most supply chains. The group will advocate for policies that stimulate innovation and competition through verifiable carbon data rather than prescriptive mandates.
Amy Brachio Named CEO
Amy Brachio, former Global Vice Chair for Sustainability at Ernst & Young (EY), has been appointed Chief Executive Officer of Carbon Measures. Over nearly three decades at EY, she led the firm’s sustainability practice, advanced a 40% emissions reduction goal, and advised thousands of clients on climate strategy.
“Good data leads to good decisions,” Brachio said. “For decades, precise and comparable data has been a holy grail in emissions tracking. Carbon Measures wants to create a system that unleashes markets and competition, unlocking investment and accelerating the pace of emissions reduction—driving the kind of enduring change the world demands.”
Her appointment signals the coalition’s intent to build a technically rigorous and globally credible platform—one capable of bridging the data gap that has long constrained carbon markets.
Industry Leaders Call for Market-Based Action
Executives across sectors framed the initiative as a critical next step for credible climate progress.
“To truly drive collective action to the next level, we need harmonized product-level carbon intensity standards supported by accurate accounting to reward low-carbon solutions and harness the power of markets,” said François Jackow, CEO of Air Liquide Group.
Ana Botín, Executive Chair of Banco Santander, emphasized the initiative’s potential to enable comparability and transparency across the global economy.
“Accurate and transparent calculation of carbon emissions at origin is the foundation for meaningful climate action. This initiative creates a reliable, globally comparable way to calculate carbon intensity across every step of the value chain.”
Leon Topalian, Chair, President and CEO of Nucor Corporation, noted that transparent metrics are essential for industrial decarbonization.
“Establishing a consistent carbon accounting framework is critical to ensuring comparability across industries, driving credible progress toward emissions reduction, and supporting policies that align industrial efforts with broader climate objectives.”
A Call for Global Policy Alignment
Carbon Measures is calling on governments to modernize policy and regulatory frameworks to “unlock innovation, competition, and the power of the market.” The group argues that verifiable, product-level carbon data could enable fairer trade and procurement standards—rewarding low-carbon producers while maintaining economic efficiency.
By combining scientific rigor with financial-grade transparency, the coalition hopes to accelerate the world’s ability to measure and manage carbon with accuracy equal to its economic value.
The Policy Takeaway
For policymakers and multilateral institutions, the launch of Carbon Measures represents more than another corporate alliance—it signals a push to formalize the rules of the emerging carbon economy. As governments debate border adjustments, industrial standards, and carbon pricing mechanisms, the framework this coalition develops could shape how emissions accountability—and competitive advantage—are defined in the decade ahead.
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