Global Standards for Carbon Accounting: An Agenda for G20

Policy Brief 2023 Ravi Kumar Mahto, Srishti Saxena, Kaushal Mahan

This Policy Brief was first published in https://t20ind.org

The effective calculation of carbon emissions is critical for combating global warming. However, carbon accounting suffers from data quality issues, measurement and reporting inconsistencies, and digital infrastructure challenges. G20 members account for around 80 percent of global carbon emissions, and therefore, they can set standards in this domain for other countries to follow. A global standard for carbon accounting can provide a common framework for calculating emissions and opportunities for reduction. Scope 1, 2, and 3 emissions were developed to measure and report carbon footprint. Each category represents a different source of emissions, and each comes with its own set of challenges-from data collection and management, to lack of standardisation and accuracy. There is a broad recognition that the roadblocks to carbon accounting cannot be overcome by any country alone. Interoperability and transparency are key with the application of technologies.