The number of corporations assigning a price to their carbon emissions in order to tackle climate change has tripled in the last year.
That’s according to a new report from CDP which stated the figure has increased to 437.
The companies are disclosing carbon price to reduce the costs and risks of their greenhouse gases production.
It revealed firms including Colgate-Palmolive, Stanley Black & Decker, ExxonMobil, General Electric, Nestle, Microsoft and Nissan are showing their concerns on climate change in their budgets.
These firms highlight the “inexorable rise of big name brands across all industries putting a price on their climate risk”, stated the CDP.
An additional 583 companies, including Yahoo! and CLP Holding, are planning to use internal carbon pricing within the next two years, it added.
Lance Pierce, President for CDP North America said: “The world’s biggest corporations anticipate a future in which their carbon emissions carry a price. The disclosures to CDP detail how and why companies are pricing their own carbon pollution now to help build competitive advantage for the future.”