Carbon Measures, a new global coalition that includes Exxon Mobil (XOM), BlackRock's (BLK) Global Infrastructure Partners and Banco Santander (SAN), said it launched Monday to develop a standardized carbon accounting framework and advance market-based policies to cut emissions.

The initiative, led by former Ernst & Young executive Amy Brachio, will create product-level carbon intensity standards for materials such as steel, fuel and electricity, the coalition said.

Other members include BASF, Air Liquide, Linde (LIN), Vale (VALE), Mitsubishi Heavy Industries, Bayer, Abu Dhabi National Oil Co., Honeywell International (HON), Nucor (NUE) and NextEra Energy (NEE), according to Carbon Measures.

Price: 112.45, Change: +0.21, Percent Change: +0.19