Large Companies Prepared to Pay Price on Carbon

More than two dozen major American corporations, including the five oil giants, are preparing to pay climate-related taxes, departing from conservative orthodoxy and exposing a rift in the Republican Party.

The development is a striking departure from conservative orthodoxy and a reflection of growing divisions between the Republican Party and its business supporters.

A new report by the environmental data company CDP has found that at least 29 companies, some with close ties to Republicans, including ExxonMobil, Walmart and American Electric Power, are incorporating a price on carbon into their long-term financial plans.

Both supporters and opponents of action to fight global warming say the development is significant because businesses that chart a financial course to make money in a carbon-constrained future could be more inclined to support policies that address climate change.

Large Companies Prepared to Pay Price on Carbon