Carbon Accounting Needs to be Unified to Reach Net Zero
Research suggests a unified system for carbon accounting.
Having various standards and systems is not effective, and achieving net-zero targets becomes difficult.
A new research paper released by the University of Bath in the UK notes that having many different carbon accounting systems will only hamper the net zero goals of companies.
Since these systems are costly and confusing, many companies avoid accurately reporting their emissions.
Findings
Several ways of measuring carbon, whether based on location, industry, or product, will only lead to inconsistencies and confusion. Companies will hide their emissions by outsourcing them.
The researchers recommend having a single, standardised system for carbon accounting so that companies can effectively report their emissions and encourage innovative solutions to reduce carbon footprints.
Marcelle McManus, Professor of Energy and Environmental Engineering at the University of Bath, said: “We're in a climate emergency and having different methods for measuring greenhouse gases doesn't help. One plus one does not always equal two in carbon accounting – and that’s a huge issue if we are trying to measure our progress toward Net Zero.
“Industries want to a level playing field and a system that helps them to decarbonise, but these systems make it really tricky to do so.
“We need consistency and transparency to make it easy for those who want to reduce their carbon impact to engage and make the innovative changes required. We also need consistency to make sure that those who want to hide, can't.
“Our work identifies where these problems occur and highlights what is needed in a consistent framework approach.”
Challenges Identified in Research
Consistently tracking emissions in complex global supply chains is difficult.
Different accounting methods for products and regions add to the confusion.
When one company uses waste from another, the complexity of measuring carbon increases.
There are myriad methods and standards that can confuse companies and add to their costs.
The lack of a unified system and the presence of too many procedures will only complicate the process.
Principles Suggested
The research team has suggested seven principles for a unified carbon accounting framework: accuracy and verification; equitable credits; global trade emissions; time-based tracking; consistent data; accessibility; and, adaptability.
The research involves other universities and organisations to make carbon accounting more effective and simpler, with the objective of reducing carbon emissions on a larger scale.
To learn more about the study, click here.
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Source: University of Bath
