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A rising number of global companies have set or plan to set their own carbon pricing standards or charge themselves for their carbon emissions in lieu of an international standard, according to Reuters’ analysis of company disclosures by the nonprofit Climate Disclosure Project.
Of the 5,435 companies that make climate-related disclosures, 20% reported using an internal carbon price in 2022 — up from 17% in 2021 — and 22% plan to use one in the next two years, according to the analysis released Monday. Companies’ internal prices varied widely, ranging from under $1 to $1,600 per metric ton.
The creation of a global carbon offset trading market was brought up again at COP28, but the annual global climate summit ended Tuesday night with no finalized plans. While global policymakers will have to begin anew on designing a carbon trading system to allow companies and countries to purchase credits from each other, an agreement was reached to begin to transition away from fossil fuels to reach net zero by 2050.
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