Business use of carbon pricing soars

More than 1,200 companies are putting a price on their carbon emissions or have plans to do so in the near future, according to the CDP.

Of 5,759 companies responding to the CDP’s request for information, 517 are already using internal carbon pricing as an accounting or risk management tool, a 19% increase from 2015. A further 732 firms said they plan to introduce an internal carbon price within two years, a 26% rise.

The organisation, formerly known as the Carbon Disclosure Project, noted in its report a significant rise in carbon pricing among firms in Mexico, with the number using or planning to use it doubling, from 13 in 2015 to 26. The increase came after the Mexican government outlined plans to introduce an emissions trading scheme in 2018, CDP noted.

There were also big rises in firms in the US, Brazil and India using or planning to use internal carbon pricing. In ...

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