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Carbon Emissions Reporting
July 23, 2023

The accurate reporting of greenhouse gas emissions is essential for driving sustainability in both countries and corporations, argues Liv Watson (senior digitisation advisor for Capitals Coalition) and Marian Van Pelt (senior vice president of climate and clean energy at ICF International) in a recent article.

However, the current gap in underreported emissions is estimated to be a staggering 8.5 to 13.3 billion tons, twice the total emissions of the United States in 2022. The main challenge lies in accessing the correct data.

To strengthen emissions accounting and create a more sustainable corporate future, the key is data interoperability. This would allow businesses, investors, and governments to compare, share, and use the vast and varied array of information gathered across greenhouse gas accounting and reporting systems.

The Carbon Call (a ClimateWorks Foundation-hosted initiative for better carbon accounting) has identified four constraints that, if addressed, could revolutionise greenhouse gas reporting. These include metadata requirements, discoverable data, a smart digital dictionary for clear understanding, and investment decisions that consider environmental and climate matters. Ultimately, interoperable data accelerates positive change and contributes to the fight against climate change on a global scale.

To find out more details please visit : https://www.xbrl.org/

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