The Coalition on Materials Emissions Transparency (COMET) is a global network of companies, universities, multilateral institutions, and NGOs. It aims to create a harmonized framework, with universal metrics for action and attribution of emissions, across all tiers of supply chains.
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 met.
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 harmonized emissions accounting methodology and attribution protocol. It incorporates the main greenhouse gas (GHG) emissions standards and protocols, both generic and sector-specific, into a set of guidance documents and tools.
The goal of the COMET Framework is to assist practitioners with conducting comprehensive, accurate, and timely measurements of industrial supply chain emissions.
IT IS NOT A NEW STANDARD
Instead it is a harmonized framework that aims to enable universal metrics for action and attribution of emissions. The COMET Framework integrates, rather than replaces, existing methodologies intended to cover specific sectors or use cases.
BENEFITS TO CORPORATES
COMET can be used for reporting to existing platforms, such as CDP, or to substantiate sets of metrics such as those provided by the Task Force on Climate-Related Financial Disclosures (TCFD). The Framework can also be used as a basis for product standards, such as the ISO standards, or financial materiality standards, such as those provided by the Sustainability Accounting Standards Board (SASB).
BENEFITS TO NATIONS
In addition to the Framework, COMET aims to provide methods to reliably estimate industrial sector emissions for consideration in the context of national GHG inventory data. These estimates will provide insights into how state and non-state actors are progressing toward their climate commitments.