Should you introduce a Carbon price into your business decisions?Does your business use a carbon price when making its investment decisions.
If so, how much is it set at?
Current carbon price initiatives only cover 15% of global emissions, and 75% of these emissions are priced at under $10/tonne.
The World Bank has supported the High-Level Commission on Carbon Prices, co-chaired by Joseph Stiglitz and Lord Nicholas Stern. This suggested a $40-80 per tonne CO2 price by 2020 and $50-100 per tonne CO2 by 2030 as these carbon price target goals were found to be consistent with the temperature goal of the Paris Agreement COP23 (signed up to by every country in the world (though one is currently looking to leave it)
If your business or organisation has not set an internal carbon price, perhaps a €/$20 per tonne price would be a good starting point. If this money is collected or set aside, it could then be utilised for further carbon reduction projects and technology deployment.
$20 or €20 / tCO2.