Lack of standards for carbon accounting hamper emissions reduction

A lack of universally accepted standards for collecting, managing, and storing greenhouse gas emissions data (i.e., carbon accounting) is holding back carbon reduction efforts, according to an essay published by the Rocky Mountain Institute.

Inconsistent standards make it difficult to exchange and compare data which adversely affects decision-making. An ecosystem of interoperable carbon accounting technologies would be hugely beneficial for stakeholders in the built environment.

The author envisions a future where buyers’ and sellers’ systems are connected and carbon data is transferred automatically like the direct deposit of a paycheck. “Using existing business intelligence software or a new generation of dedicated carbon accounting software, buyers could see the emissions consequences of their purchases in real time,” the article states.

“They could more easily make low-carbon purchasing decisions, helping them meet net-zero targets and comply with a growing wave of product-level emissions regulations. By aggregating data from multiple suppliers, they could more accurately describe the embodied emissions of their own products and supply that data to their customers, allowing them to qualify for green procurement benefits.”

Global management consulting firm McKinsey recently launched the Net Zero Built Environment Council, a cross-sector coalition of industry stakeholders aiming to decarbonize the built world. The council’s chief goal is to collaboratively create new pathways to cut greenhouse gas emissions from buildings.

Aerial of the 51-story 320 South Canal tower in Chicago looking northeast. Photo: Ian Jolipa

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