Toward a Technology Ecosystem for Carbon Accounting

This policy brief by RMI argues that the lack of universally accepted, machine-readable data standards for carbon accounting hinders the ability of companies to exchange and compare emissions data, thereby slowing decarbonization. The document proposes the creation of an ecosystem based on open standards, open-source collaboration, and industry-wide software support to enable real-time, interoperable carbon tracking acrossSS across supply chains.

• Current carbon accounting is hindered by a lack of common data formats, making emissions data difficult to exchange and compare. While the Greenhouse Gas Protocol (GHGP) provides a common method for tabulating emissions—used by over 92% of Fortune 500 companies reporting emissions—it does not provide a standardized data format for exchange.
• Existing carbon reporting platforms like CDP and EcoVadis are limited because they focus on annual organizational-level reporting rather than the product and transactional levels required for operational decision-making.
• The current process for exchanging product emissions data is highly manual, often involving emails, spreadsheets, and PDFs, which can take months to consolidate and lacks consistency in methodology and boundaries.
• RMI is partnering on the PACT format for product-level carbon data, developed with the World Business Council for Sustainable Development (WBCSD), to create a technical standard that allows for sector-specific carbon attributes and interoperable data exchange.
• The carbon accounting software market is growing rapidly, with significant venture capital investment in 2021 exceeding $410 million. Specific startups mentioned include Persefoni ($114 million), Watershed ($85 million), SINAI ($36 million), and Sphera ($21 million).
• Standardized carbon data is essential for implementing green procurement policies, such as the Biden administration's guidelines requiring net-zero emissions from federal procurement by 2050 and the 'Buy Clean' policy for construction materials.
• The document identifies several industry bodies that can drive the adoption of carbon standards through their collective purchasing power, including the Responsible Steel Alliance (RSA), Sustainable Aviation Buyers Alliance (SABA), Clean Energy Buyers Association (CEBA), and the Aluminum Stewardship Initiative (ASI).

APA

RMI (2023). Toward a Technology Ecosystem for Carbon Accounting. https://rmi.org/resources/toward-a-technology-ecosystem-for-carbon-accounting/

Chicago

RMI. Toward a Technology Ecosystem for Carbon Accounting. 2023. https://rmi.org/resources/toward-a-technology-ecosystem-for-carbon-accounting/.

Wikipedia

{{cite report |author=RMI |title=Toward a Technology Ecosystem for Carbon Accounting |date=25 January 2023 |url=https://rmi.org/resources/toward-a-technology-ecosystem-for-carbon-accounting/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2023toward, author = {{RMI}}, title = {{Toward a Technology Ecosystem for Carbon Accounting}}, institution = {RMI}, year = {2023}, month = jan, url = {https://rmi.org/resources/toward-a-technology-ecosystem-for-carbon-accounting/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }