Shipping Giants Back Standardised Carbon Emissions Tracking
A new global initiative, Carbon Measures, has brought together leading shipping companies, ports, and major charterers to create a more accurate carbon accounting framework, Splash 247 reports. The coalition aims to improve emissions tracking and promote market-based solutions to cut carbon at the lowest cost.
The initiative uses scientific methods and financial accounting principles to design a ledger-based system that avoids double-counting and fills current gaps in emissions data. This will allow businesses to track their carbon footprint more precisely and help governments make informed policy decisions.
Among the founding members are Mitsui OSK Lines, ADNOC, Brazil’s Vale, ExxonMobil, and the Port of Rotterdam. Carbon Measures plans to develop carbon intensity standards for essential industrial products, including steel, concrete, fuel, electricity, and chemicals, which account for most global emissions.
The coalition is led by CEO Amy Brachio, who has nearly 30 years of experience in advisory work at Ernst & Young. She highlights that past emissions tracking relied heavily on estimates and voluntary reporting, and stresses the need for accurate, verifiable data to drive competition and investment in low-carbon production.
Other members include Banco Santander, BASF, Bayer, Mitsubishi Heavy Industries, and Global Infrastructure Partners. ExxonMobil’s CEO Darren Woods has emphasised that without proper measurement, global emissions cannot be effectively managed. Carbon Measures seeks to provide a standard methodology that mobilises market forces, encourages innovation, and accelerates the transition to low-carbon shipping and industrial production.
