Monday, September 15, 2014

Big Firms Brace for Global Carbon Price Rollout: Report

In this April 3, 2014 file photo giant machines dig for brown coal at the open-cast mining Garzweiler in front of a smoking power plant near the city of Grevenbroich in western Germany. (Credit: AP) Click to Enlarge.
An increasing number of big corporations expect governments worldwide to put a price on carbon dioxide emissions to help tackle climate change and some are already factoring in the cost to guide future investment decisions, a report found on Monday.

Some 150 large listed companies - including 29 in the United States such as Dow Chemical Company, banking group Goldman Sachs, and oil firm ExxonMobil - now incorporate an internal carbon price ranging from $6-80 per tonne, according to a report by CDP, which gathers environmental information from companies worldwide on behalf of investors.

CDP said the report was the first global analysis of corporate views explicitly mentioning carbon pricing among the 6,000 company disclosures the group gathers annually.

Around 40 nations and over 20 states, regions or cities have either set up or are planning to set up carbon pricing via taxes on emissions or by setting up emissions trading systems that cap emissions and allow companies to buy and sell permits to emit.

In contrast, U.S. federal lawmakers have repeatedly blocked efforts to price carbon emissions at the national level, amid fears over costs and job losses, but California and a group of northeast states have introduced their own policies.

Big Firms Brace for Global Carbon Price Rollout:  Report

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