Putting a price on carbon is an essential part of any strategy to combat climate change, mitigate risks and capitalize on opportunities. Corporate use of an internal price on carbon is becoming the new normal for major multinationals, and in 2017 almost 1,400 companies were factoring an internal carbon price into their business plans, representing an eight-fold leap over four years. The widespread adoption of internal carbon prices illustrates the mainstreaming of climate change concerns as a line item in public companies' budgeting and strategic planning.
What are the benefits?
Carbon pricing systems encourage innovation and help ensure sustained economic competitiveness. Leading businesses already recognize this, and have disclosed to CDP that they support carbon pricing policies and are building a carbon price into their business operations and investment decisions as a way to prepare for a low-carbon economy.
What is expected of companies that make this commitment?
By making this commitment, companies are agreeing to align with the UN Global Compact’s Business Leadership Criteria on Carbon Pricing:
- Set an internal carbon price high enough to materially affect investment decisions to drive down greenhouse gas emissions;
- Publicly advocate the importance of carbon pricing through policy mechanisms that take into account country specific economies and policy contexts; and
- Communicate on progress over time on the two criteria above in public corporate reports.
Companies can communicate on progress through platforms like the CDP climate change questionnaire. Companies who successfully align with the criteria will join a growing group of Carbon Pricing Champions.
Committed to the UN Global Compact’s Business Leadership Criteria on Carbon Pricing
Abengoa
Acciona S.A.
AGL Energy
Aimia Inc.
Atmoterra
Atos SE
Autodesk
Barco NV
Bank Australia
Braskem
Broad Group
BT Group
Carrefour
Cálidda
Coca-Cola HBC AG
Coway Co Ltd
CPFL Energia
Danfoss
Ecotierra
Edenred Brasil
EDF - Électricité de France
EDP - Energias de Portugal S.A.
Ekbd Consult
Enagás
Enel
Engie
Eni
GEskom
Eskom
Ferrovial
Fortum
Galp
Garanti Bank
Gas Natural Fenosa
Grupo Financiero Banorte SAB de CV
H&M Hennes & Mauritz AB
Hindustan Construction Company
IDEAcarbon
Infigen Energy
Keyassociados
LafargeHolcim
LATAM Airlines Group SA
National Australia Bank
National Grid PLC
Natura
Nature Bank
NEAS Energy
Nestlé
Nordea Bank AB
Nouveau Energy Management
Novartis
Novozymes
Obrascon Huarte Lain (OHL)
Origin Energy
Pirelli
PTT
PTT Exploration and Production Public Company Limited
RELX Group plc
Royal DSM
Royal Philips
Saint-Gobain
Schneider Electric
Sekem Group
Şekerbank T.A.Ş.
Sindicatum
SkyPower
Solvay S.A.
SSE
Statkraft
Statoil
Suez Environnement
Total
Unilever plc
Veolia
Visão Sustentável
Wesfarmers
Zenith Bank
Committed to the World Bank’s Statement on Putting a Price on Carbon
Acciona S.A.
BT Group
Grupo Financiero Banorte SAB de CV
H&M Hennes & Mauritz AB
National Grid
Nestlé
Pirelli
PTT
PTT Exploration & Production Public Company Limited
RELX Group
Royal Philips
Suez Environnement
T.GARANTİ BANKASI A.Ş.
T.SINAİ KALKINMA BANKASI A.Ş.
TSKB
Unilever plc
Veolia
Westpac Banking Corporation
Zenith Bank plc
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