Full Title: Putting a price on risk: Carbon pricing in the corporate world
Author(s): CDP
Publisher(s): CDP
Publication Date: September 1, 2015
Full Text: Download Resource
Description (excerpt):
Corporations behind everyday brands of toothpaste, soup, light-bulbs, gasoline, cars and computers are assigning a price to their carbon emissions to offset the costs and risks of their greenhouse gas production, according to new disclosures provided to CDP, the global non-profit which gathers environmental data on behalf of investors. Major multinationals including Allergan, Campbell’s Soup, Colgate-Palmolive, Stanley Black & Decker, Exxon Mobil, General Electric, Nestle, Microsoft, and Nissan are among the 437 companies included in CDP’s new report, which illustrates the mainstreaming of climate change concerns as a line item in public companies’ budgeting and strategic planning. CDP saw a tripling in the number of companies reporting that they price their greenhouse gas (GHG) emissions over last year (437 up from 150 in 2014), highlighting the inexorable rise of big name brands across all industries putting a price on their climate risk. An additional 583 companies state they plan to use an internal carbon price within the next two years, including Yahoo! and China’s power giant, CLP Holdings Ltd. Together, over 1,000 companies are now disclosing to their key stakeholders that they currently price their carbon emissions – or intend to in the next two years – to try to meet their climate change risks, a number that was unthinkable just a few years ago.