Flying blind into the climate storm
In the race to address the climate crisis, data plays a critical role in understanding the causes, identifying the sources, and developing the strategies to tackle and reduce GHG emissions. Scientists have a wealth of climate data, collected from satellites, sensors, and core samples, with which to analyze the nature of atmospheric climate change and the effects of global heating, resulting in a sophisticated understanding of the impacts of climate change.
Yet we don’t have a clear and comprehensive picture of some of the most important carbon emissions sources - the climate pollution from large corporations. Despite years of effort to encourage companies to voluntarily share their carbon emissions data, much of this corporate data remains hidden from view behind firewalls. What is shared is often only the most favorable to the polluters, incomplete in scope and inaccessible to the general public.
The unfortunate truth is that many of the most powerful and profitable corporations simply don’t want to disclose the granular details of their carbon emissions, details critical to creating and implementing effective carbon pollution reduction strategies.
Full access to corporate carbon emissions data will reveal the smartest, most direct path forward for climate action. It will also unlock the full potential of the climate movement in the transformation to a low carbon economy. But the continuing resistance of global corporations to carbon data transparency calls for stronger action. We must enact mandatory disclosure laws to ensure consumers and investors can access and utilize this vital corporate carbon emissions data.
Enacting corporate carbon disclosure policy
Overcoming the opposition of powerful global corporate polluters to sharing climate emissions data won’t be easy. In fact, it will likely require a major effort by the climate movement. The call for broad, open carbon disclosure policies - starting the largest and most profitable corporations - will need to be one of the top agenda items of climate activists and organizations if we hope to unlock this critical source of climate knowledge.
The campaign for a public right to corporate carbon pollution data will need to include the requirement that all disclosures are provided in clear, understandable and accessible formats and forums, so consumers and investors can make informed purchasing and investment choices.
In California, we at the Carbon Accountable are working with allies and stakeholders, including environmental and climate activists and organizations as well as business and investor groups, to undertake a broad education and engagement campaign, build consensus on the reporting framework, and enact carbon emissions data disclosure legislation targeting Fortune 1000 companies.
What will the future look like when we are successful?
We will have strong climate accountability tools. Open carbon emissions data will give consumers and investors the power to act directly, enabling rigorous monitoring of carbon pollution, and the ability to verify claims of progress.
The nation and the world will have informed climate markets. Complete access to carbon emissions data will enable the effective regulation of polluters, the identification of the most impactful strategies, and a means to accurately price carbon.
The economy will grow as a result of dynamic innovation and massive new low- and no-carbon investments. Open and accessible carbon emissions data will fuel private and public incentives for consumers to take climate friendly actions, create new markets for entrepreneurs, and support the transition from dirty-to-clean business operations.
We have a history of achieving big things in the name of protecting people and the planet - clean air and water protections, toxic disclosure laws, the Paris climate agreement. Passing national and global climate data disclosure laws is the next big thing. The future of our kids - and theirs - depends on it.
