As the host of the postponed COP26 climate summit, the UK has set out the ambitious goal to convince all countries to commit to reach net zero emissions as soon as possible within their mandatory climate targets. Reducing overall emissions remains the paramount task of global climate governance. However, an overlooked but defining question concerns carbon accounting—the methodology of how national CO2 emissions are assessed. The conventional territory-related production approach, which has traditionally been used in climate governance, stands in contrast to an often ignored consumption-based approach, which more closely captures emissions embodied in the domestic end-use of energy and goods. This article lays out why the seemingly dull and technical matter of carbon accounting has the potential to become the future stepping-stone for a global consensus on …