Our ability to achieve net zero will be underpinned by our capacity to accurately report on emissions. Despite rapid growth and huge demand, carbon accounting remains firmly in its infancy. The methods used to calculate carbon are rudimentary and rely largely on approximations. Additionally, carbon accounting lacks a globally adopted set of standards, making data interoperability nearly impossible. To solve these problems, the Mycelium Network is working alongside the Transitional Energy Research Centre, the University of Sheffield and Sheffield Hallam in leading critical R&D in the field of carbon accounting, as well as bringing commercial digital solutions to market. Our starting point is that the widespread use of estimations is a serious stumbling block to companies trying to accurately understand their carbon footprint.