COMET, a new alliance, will construct a standard method for computing Greenhouse Gas Emissions from the production of materials such as steel, copper, and cement. The COMET Method will inform the carbon content of consumer products like cars, buildings, and phones.
Rocky Mountain Institute, MIT Sustainable Supply Chains, the Columbia Center on Sustainable Investment, and the Payne Institute for Public Policy at the Colorado School of Mines announced the Coalition on Materials Emissions Transparency (COMET) at Davos, Switzerland, says Yahoo! Finance.
Currently, consumers, corporations, or financial institutions are unable to assess the extent of emissions inherent in the products they buy, produce, or invest in. That’s because, regrettably, there is no universally accepted way to calculate the emissions intensity of products or materials.
“However, the COMET Method will provide a foundation for integrating environmental reporting metrics, support and enhance existing initiatives for sustainable production, and ultimately develop a clear picture of emissions from the production of key materials,” the alliance said in a statement.
“An emissions calculation method for mineral and industrial supply chains is an important first step for consumers and investors to understand and drive the decarbonization of the goods we use every day,” said Suzanne Greene, program manager for MIT Sustainable Supply Chains.
Initially, COMET will focus its efforts on the minerals and metals sectors.
Read the Yahoo! Finance article HERE.
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