COALITION ON MATERIALS EMISSIONS TRANSPARENCY (COMET)
COMET accelerates supply chain decarbonization by enabling producers, consumer facing companies, investors and policy makers to better account for all supply chain emissions in harmony with existing methods and platforms.
Launched in 2020 at the World Economic Forum in Davos, Switzerland, the Coalition on Materials Emissions Transparency (COMET) is an initiative between the Columbia Center on Sustainable Investment, the Payne Institute for Public Policy at the Colorado School of Mines, RMI, and the United Nations Climate Change Secretariat.
Leverage and build on existing protocols and efforts, creating a common language to create fluid communications and comprehensive
Drive progress through practical implementation and testing with industry partners rather than academic report-writing.
Engage early with leading companies in industries that have critical use-cases to ensure that their needs are served.
Ensure alignment between carbon and financial accounting to create a harmonized system that accurately measures emissions throughout a full supply chain, avoiding
leakages over time.
THE COMET FRAMEWORK
The COMET Framework is a standard harmonized methodology and attribution protocol that brings together the main greenhouse gas (GHG) emissions standards and protocols, both generic and sector-specific, into an organic set of guidance documents, with a specific focus on enabling universal metrics for action and attribution of carbon at all tiers of supply chains.
COMET is not a new standard.
The COMET Framework integrates, not replaces, existing methodologies intended to cover specific sectors or use-cases. COMET can be used for reporting to existing platforms, such as CDP, or to substantiate sets of metrics such as those provided by the Taskforce on Climate-related Financial Disclosures (TCFD). It can even be used as a basis for product standards like the ISO standards, or financial materiality standards such as those provided by the Sustainable Accounting Standards Board. A general attribution protocol will specify principles for attribution of carbon along supply chains, a critical enabler of future low-carbon commodity markets.
Working across borders and at the national level.
In addition to the Framework, the foundational building blocks of COMET will provide methods to reliably estimate industrial sector emissions to be considered in the context of national GHG inventory data, providing insights into how State and non-State actors are progressing towards their climate commitments.
Help accelerate supply chain decarbonization for every company, and every sector.
COMET is a global network of companies, universities, multilateral institutions and NGOs which translates carbon accounting to impact the ways the world operates, finances, and regulates material supply chains. In 2021, COMET will pilot the COMET Framework. This unifying carbon accounting guidance for material supply chains includes aluminum, cement, copper, plastics, steel, with a plan to expand to cover the vast majority of material and energy sectors, creating a common language for the more than 60 carbon accounting systems currently in use today.
Contact COMET to get involved: email@example.com