The International Chamber of Commerce (ICC) and Carbon Measures have announced the appointment of Iván Duque, the former President of Colombia, as the Chair of the newly established Advisory Group for the Technical Expert Panel (TEP). This strategic move is designed to accelerate the development and implementation of a globally applicable carbon emissions accounting framework, specifically focusing on product-level transparency. The TEP, a collaborative initiative co-convened by the ICC and Carbon Measures, represents a significant milestone in the global effort to harmonize how carbon footprints are measured, reported, and verified across diverse industrial sectors.
As the global economy faces increasing pressure to transition toward net-zero emissions, the lack of a unified, standardized approach to carbon accounting has emerged as a primary obstacle for businesses, investors, and policymakers. The TEP’s primary objective is to bridge this gap by bringing together a multidisciplinary cohort of experts from academia, financial accounting, heavy industry, and civil society. By appointing a former head of state with a proven track record in climate policy and economic development, the initiative seeks to elevate the technical work of the panel into a high-level diplomatic and strategic dialogue.
The Mandate of the Advisory Group and the TEP
The Technical Expert Panel was established to address the fragmentation currently seen in the carbon accounting landscape. While various methodologies exist—such as the Greenhouse Gas Protocol (GHGP) and various ISO standards—businesses often struggle with the granular application of these rules at the product level. The TEP focuses on the technical nuances of life-cycle assessments and the calculation of "embedded carbon" in goods.
The Advisory Group, led by Mr. Duque, serves a distinct but complementary purpose. While the technical conclusions of the TEP remain independent and driven by scientific and accounting rigor, the Advisory Group provides the necessary external perspective to ensure these standards are practical, scalable, and politically viable. Its mission is to broaden engagement with international policymakers, global business leaders, and financial institutions to ensure that the resulting framework can be integrated into real-world supply chains and regulatory environments.
Andrew Wilson, ICC Deputy Secretary General, emphasized the importance of this leadership transition, noting that Mr. Duque’s appointment is a pivotal step in building the necessary engagement across key stakeholder groups. According to Wilson, the ultimate goal is to advance the global conversation on the utility of a consistent, product-level carbon accounting regime that can withstand the complexities of international trade.
A Career Defined by Climate Action and Economic Development
Iván Duque’s selection as Chair is rooted in his extensive background in both the public and private sectors. Serving as the President of Colombia from 2018 to 2022, Duque positioned the South American nation as a regional leader in climate ambition. Under his administration, Colombia committed to an ambitious target of reducing greenhouse gas emissions by 51% by 2030, a goal that far exceeded previous national contributions. Furthermore, he spearheaded the passage of the 2021 Climate Action Law, which legally mandated Colombia’s path toward carbon neutrality by 2050.
Beyond domestic policy, Duque has been a vocal advocate for the protection of biodiversity and the integration of environmental health with economic growth. Before his presidency, he spent over a decade at the Inter-American Development Bank (IDB), where he focused on economic development and institutional innovation. Since leaving office, he has remained a prominent figure on the world stage, working with the Bezos Earth Fund, Conservation International, and the Concordia Amazon Initiative to promote sustainable development in the Amazon basin.
In his new role with the TEP, Mr. Duque will serve in a personal capacity. He has expressed that his involvement is driven by a desire to enhance transparency in the mobilization of capital toward decarbonization. He noted that high standards in climate accounting are essential for the development of higher-quality carbon projects and the efficient allocation of green finance.
The Global Context: The Need for Harmonization
The appointment comes at a time of "growing global momentum" toward the harmonization of carbon accounting. Currently, the "alphabet soup" of reporting standards—including TCFD, CSRD, and various national mandates—has created a high compliance burden for multinational corporations. According to data from the World Bank and the International Monetary Fund (IMF), the lack of standardized carbon data acts as a non-tariff barrier to trade, as different jurisdictions apply varying metrics for carbon intensity.
Research suggests that nearly 80% of a company’s carbon footprint often resides in "Scope 3" emissions—those generated within the supply chain rather than through direct operations. However, measuring these emissions at the product level remains notoriously difficult. Without a globally accepted framework, companies are prone to "greenwashing," where environmental claims are made without verifiable data, leading to a loss of investor confidence.
The TEP’s work is intended to provide the technical "connective tissue" that allows a product’s carbon data to follow it from raw material extraction through manufacturing and eventual distribution. This level of granularity is essential for the implementation of mechanisms like the European Union’s Carbon Border Adjustment Mechanism (CBAM), which requires precise data on the carbon content of imported goods.
Supporting Data and Technical Challenges
The scale of the challenge the TEP faces is reflected in recent economic data. The global carbon market is projected to reach a valuation of over $2.6 trillion by 2030, yet the reliability of the underlying data remains a point of contention. A 2023 study by the Boston Consulting Group found that while 90% of companies are concerned about their carbon footprint, only 10% measure their emissions comprehensively. Furthermore, of those that do measure, the margin of error in Scope 3 reporting can be as high as 30% to 40% due to data gaps.
The TEP’s framework aims to reduce this margin of error by establishing clear rules for:
- Data Interoperability: Ensuring that carbon data collected in one jurisdiction is recognized and usable in another.
- Primary Data Usage: Moving away from industry averages and toward actual, measured data from suppliers.
- Verification Protocols: Creating a standard for third-party auditing of product-level carbon claims.
Amy Brachio, CEO of Carbon Measures, highlighted that while technical accuracy is the foundation, the framework’s success depends on its "on-the-ground" applicability. She noted that President Duque’s firsthand experience at the intersection of public policy and economic growth is invaluable for ensuring the framework works across real-world supply chains.
Chronology of the Initiative
The development of the TEP and the Advisory Group follows a clear timeline of escalating global climate commitments:
- 2015: The Paris Agreement establishes the framework for national climate targets, highlighting the need for transparent reporting.
- 2021: Colombia passes the Climate Action Law under the Duque administration, setting a precedent for legislative climate commitments in emerging markets.
- 2022-2023: The ICC and Carbon Measures identify a critical gap in product-level carbon accounting and begin the conceptualization of the Technical Expert Panel.
- Early 2024: The TEP is formally convened, drawing experts from global academic institutions and financial accounting bodies.
- Late 2024: Iván Duque is appointed as Chair of the Advisory Group to provide strategic leadership and bridge the gap between technical work and policy implementation.
- Upcoming Months: The ICC has confirmed that additional members of the Advisory Group will be announced, focusing on ensuring diverse perspectives from the Global South and various industrial sectors.
Broader Impact and Industry Implications
The implications of a successful TEP framework extend far beyond simple reporting. For the financial sector, standardized carbon accounting allows for more accurate risk assessment. If a bank can see the precise carbon intensity of a manufacturer’s product line, it can better price "green loans" or assess the risk of "stranded assets" in a high-carbon economy.
For the consumer goods industry, product-level accounting enables "carbon labeling," similar to nutritional facts on food packaging. This empowers consumers to make informed purchasing decisions, potentially driving a market-led transition toward low-carbon products.
In the realm of international trade, the work of the TEP could serve as a blueprint for the "Climate Club" initiatives proposed by the G7. By standardizing how carbon is measured, the TEP helps prevent "carbon leakage," where companies move production to countries with laxer environmental standards to avoid costs.
Conclusion and Future Outlook
The appointment of Iván Duque represents a strategic merging of political influence and technical expertise. As the TEP continues its work, the focus will remain on creating a framework that is "completely independent" in its technical conclusions but "strategically aligned" with the needs of the global economy.
The inclusion of diverse perspectives—as promised by the upcoming announcements of additional Advisory Group members—will be crucial. To be truly "globally applicable," the framework must account for the different economic realities of developed and developing nations. By placing a leader like Duque at the helm, the ICC and Carbon Measures are signaling that the future of carbon accounting is not just a matter for scientists and accountants, but a fundamental pillar of global economic governance and diplomacy.
As the world moves toward COP30 and beyond, the outputs of the Technical Expert Panel are expected to become a cornerstone of the international trade and climate regime, providing the transparency required to turn net-zero pledges into measurable, verifiable reality.
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