Six companies with a large presence in the Houston area have joined a new coalition of companies pursuing a better way to track the carbon emissions of products they manufacture, purchase and finance.

Houston-area members of the Carbon Measures coalition are:

• Spring-based ExxonMobil
• Air Liquide, whose U.S. headquarters is in Houston
• Mitsubishi Heavy Industries, whose U.S. headquarters is in Houston
• Honeywell, whose Performance Materials and Technologies business is based in Houston.
• BASF, whose global oilfield solutions business is based in Houston
• Linde, whose Linde Engineering Americas business is based in Houston

Carbon Measures will create an accounting framework that eliminates double-counting of carbon pollution and attributes emissions to their sources, said Amy Brachio, the group’s CEO. The model is expected to take two years to develop, and between five and seven years to scale up, Bloomberg reported.

The coalition wants to create a system that will “unleash markets and competition,” unlock investments and speed up the pace of emissions reduction, said Brachio, former vice chair of sustainability at professional services firm EY.

“If you can’t measure it, you can’t manage it,” said Darren Woods, chairman and CEO of ExxonMobil. “The first step to reducing global emissions is to know where they’re coming from — and today, we don’t have an accurate system to do this.”

Other members of the coalition include BlackRock-owned Global Infrastructure Partners, Banco Satanader, EY and NextEra Energy.

“Transparent and consistent emissions accounting is not just a technical necessity — it’s a strategic imperative. It enables smarter decisions and accelerates real progress across industries and borders,” said Ken West, president and CEO of Honeywell Energy and Sustainability Solutions.