The world is changing, and it’s changing fast. More companies are committing to emissions reductions but still struggle to measure and verify the impact from corporate headquarters to global operations to supply chains.

Now, new breakthrough climate accounting technologies are emerging as solutions to track and verify energy and carbon emissions, and report energy purchases and consumption. As more of these services hit the market, corporations making ambitious climate pledges will need to adopt energy and carbon tracking and reporting technologies.

In an interview with Bloomberg earlier this year, Cornerstone Capital Group CEO Erika Karp said the biggest challenges of ESG investment are data and measurement. As more companies make "carbon net-zero" commitments, how will stakeholders — investors, employees, customers and regulators — hold these companies accountable?

Everything hinges on measurement
KPMG’s 2020 Study on Climate Accounting estimates that $90 trillion of investment is needed to finance sustainable infrastructure and cities in the U.S., and that after 2024, fines totaling as much as $1 trillion to $1.5 trillion will be paid to meet enforcement of climate standards for emissions reduction. In order to get to enforcement, we need a standardized methodology for measurement of carbon reductions and zero-emission energy that uses internet of things (IoT) sensing, blockchain and artificial intelligence to verifiably track and account for all emissions.

Read the full article about carbon tracking and reporting by Daniel Goldman at GreenBiz.