Process of measuring carbon needs a revolution similar to the fintech one

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The process of measuring carbon is complex for both corporations and the environmentalists watching what they do

Swedish environmental activist Greta Thunberg. Picture: REUTERS/FABIAN BIMMER

The process of measuring carbon needs a revolution similar to fintech’s, an industry that came out of nowhere to challenge incumbents by bringing together the brightest minds in technology and finance. The good news is that seems to be happening: an array of start-ups is racing to solve the puzzle. The neglect of Scope 3 makes it easier for oil giants like BP and Royal Dutch Shell to say they’ll become net-zero energy businesses by 2050 since for the time being, they are not obliged to track the enormous pollutants made by their customers. Some ambitious companies like Apple or American Airlines have, to their credit, tried tracking their Scope 3 emissions, but they are chasing a moving target.

 

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