Companies Ready for Carbon Pricing
Dow Chemical Company, Goldman Sachs, Microsoft and ExxonMobil are among the 29 major public companies in the US — and 150 globally — that are incorporating an internal carbon price into their business decisions, according to a CDP report.
The prices disclosed, ranging from $6 to $80 a metric ton, are also used as a tool to drive investments in GHG emissions reductions.
The report, which says there is a global corporate consensus that carbon will be priced, finds that large public companies are ahead of their governments in planning for climate change risks, costs and opportunities.
- Major companies, such as Alstom and Bayer and Canadian Tire Corporation, are keeping close watch on emerging Chinese emissions trading systems that will soon be pricing carbon on a mandatory basis.
- Some 638 companies disclose that regulations related to carbon pricing (cap and trade as well as carbon taxes) present an opportunity for their businesses.
- Many major US companies are participating in the European Union Emissions Trading Scheme and are thus already operationalizing a carbon price on a mandatory basis.
- Some 212 companies disclose they are directly engaging with policymakers on carbon pricing legislation (cap and trade as well as carbon taxes) and state that their corporate position is in support of these measures.
- Many companies use carbon pricing to guide their internal and external capital deployment to maximize return on investment.
- Some companies in developing countries, especially heavy emitters, such as ArcelorMital South Africa and PPC continue to feel competitively disadvantaged by carbon pricing.
Energy Manager News
- Tesla’s Battery Storage Device Put to Use. Time to Exhale?
- Variable Speed Drives are a Powerful Efficiency Tool
- Veolia Checks Into the UK’s Tallest Hotel
- Massachusetts Aims for Critical Care Resiliency
- State of Michigan and MISO Propose Retail Capacity Charge
- Breaking the Ice with Thermal Energy Storage
- Ameresco to Upgrade Federal Prison in Butner, NC
- Alpen Introduces Window Package Rated at R10 Insulation