The standard is said to be a consistent way of counting greenhouse gas emissions embedded in goods and services, throughout their entire life cycle.

It aims to help businesses move beyond managing the emissions their own processes create to look at the opportunities for reducing emissions in the design, making and supplying of products.

It is hoped the standard will be widely used by companies of all sizes and sectors.

Carbon Trust chief executive Tom Delay said: "For the first time, businesses have a robust, consistent standard for measuring the carbon footprint of their goods and services.

"This exciting development will help businesses to really understand the carbon impact of their products and to follow this up with tangible ways to cut carbon emissions across the supply chain."

Environmental secretary Hilary Benn said that by looking at where emissions are being created and reducing them, businesses can also save themselves money.