Big biz appears to be well ahead of many governments – and are preparing for the cost of an international carbon price.
That’s according to new research among corporations about their climate change plans.
It found 29 major public firms in the US including Dow Chemical Company, Goldman Sachs and ExxonMobil are either already or starting to factor in a carbon price to future costs.
The prices disclosed ranged from $6-$80 a tonne according to environmental organisation CDP which ran the research.
It found firms such as Alstom and Bayer are keeping an eye trained on emerging Chinese emissions trading systems that will soon be pricing carbon on a mandatory basis.
In total, 150 companies disclosed “internalising” a price on carbon: the majority (67) who shared this information were from Europe, 43 in North America and 23 in Oceania.