Business Leadership Criteria on Carbon Pricing

General

Name of initiative Business Leadership Criteria on Carbon Pricing - Put a price on carbon
LPAA initiative Yes
NAZCA Initiative Yes
Website address http://caringforclimate.org/workstreams/carbon-pricing/
Related initiatives
Starting year 2014
End year
Secretariat Jennie Gleed, CDP, e-mail: Jennie.Gleed@cdp.net or commit@cdp.net;
Organisational structure UNEP, UNFCCC secretariat, Principles for Responsible Investment, World Resources Institute, CDP, The Climate Group, UN Foundation, Carbon Pricing Leadership Coalition led by the World Bank Group.
Geographical coverage
Name of lead organisation United Nations Global Compact
Type of lead organisation International organisation
Location/Nationality of lead organisation United States of America

Description

Description The Business Leadership Criteria on Carbon Pricing of the United Nations was launched during the occasion of the UN Secretary-General’s Climate Summit in September 2014. The Leadership Criteria form one of the workstreams of the Carbon Pricing Leadership Coalition led by the World Bank Group. The initiative is promoted by CDP and the We Mean Business coalition.
Objectives The Business Leadership Criteria on Carbon Pricing is designed to inspire companies to reach the next level of climate performance and set a high bar for companies to commit. By signing up, companies commit to align their actions with three core elements:

•Set an internal carbon price high enough to materially affect investment decisions to drive down greenhouse gas emissions; •Publicly advocate the importance of carbon pricing through policy mechanisms that take into account country specific economies and policy contexts; and •Communicate on progress over time on the two criteria above in public corporate reports.

Activities
One or two success stories achieved

Monitoring and Impacts

Function of initiative Political dialogue
Activity of initiative Policy planning and recommendations
Indicators
Goals The UN Global Compact seeks to mobilize business support towards the long-term objective of achievement a carbon price applied throughout the global economy. The two interlinked objectives for 2018-2019 are to:

• Contribute to mobilizing business around the world to take a leadership stance on carbon pricing with a view to expand quality corporate commitments. • Encourage governments to develop policies that can lead to a meaningful price of carbon on the market. Aligned with the below 2-degree Celsius pathway, the initiative asks companies to: (1) Set an internal carbon price high enough to materially affect investment decisions to drive down greenhouse gas emissions; (2) Publicly advocate the importance of carbon pricing through policy mechanisms that take into account country specific economies and policy contexts; and (3) Communicate on progress over time on the two criteria above in public corporate reports. To date, 78 companies with a total market capitalization of over USD 2.0 trillion across 20 sectors have committed to integrate carbon pricing into corporate long-term strategies and investment decisions. For COP22, the initiative seeks to expand its signatory base to up to 100 companies that commit to the leadership criteria and to present findings from up to 10 local level carbon pricing dialogues.

During the occasion of the Paris Agreement Signing Ceremony at the United Nations on 22 April 2016, the UN Global Compact in consulting with UN partners has made a call to companies participating in Caring for Climate to take a leadership position and adopt the $100 price on carbon by 2020. Based on work with approximately 70 companies that have already internalized a price on carbon, the UN Global Compact believes that $100 is the minimum price needed to spur innovation, unlock investment and shift market signals in line with the 1.5 to 2-degree Celsius pathway. The broader vision and objective of the initiative is to reach a point where critical mass of companies around the world are aligning with the leadership criteria and applying an ambitious price on carbon.

Comments on indicators and goals
How will goals be achieved
Have you changed or strenghtened your goals
Progress towards the goals We are currently in the planning stages of reaching out to our stakeholders to assess the progress to date since COP21. A survey is scheduled for early July.
How are you tracking progress of your initiative
Available reporting

Participants

Participants Number Names
Members 74  
Companies 63 Abengoa (Spain),Acciona (Spain),AGL Energy (Australia),Aimia Inc. (Canada),Atos SE (France),Autodesk (USA),Barco NV (Belgium),Braskem S/A (Brazil)

Broad Group (China),BT Group (United Kingdom),Cálidda (Peru),Carrefour (France),Coca-Cola (Switzerland),Coway (South Korea),CPFL Energia (Brazil),Danfoss (Denmark),Ecotierra (Canada),Edenred (Brazil),EDF (France),Enel (Italy),EDP - Energias de Portugal (Portugal),Ekbd Consult (Ghana),ENAGAS (Spain),Eskom (South Africa),FERROVIAL (Spain),Fortum (Finland),Galp Energia (Portugal),Gas Natural SDG (Spain) H&M Hennes & Mauritz AB (Sweden),Hindustan Construction Company (India),IdeaCarbon (India),Infigen Energy (Australia),Keyassociados (Brazil),Koninklijke DSM (Netherlands),Koninklijke Philips (Netherlands),Lafarge (France),LAN Airlines (Chile),National Grid (United Kingdom),Natura Cosmeticos (Brazil),NEAS Energy (Denmark),Nestlé (Switzerland),Nouveau Energy Management (France),Novartis (Switzerland),Novozymes (Denmark),Obrascon Huarte Lain (Spain),Origin Energy (Australia),Pirelli (Italy),PTT Exploration & Production Public Company (Thailand),RELX Group (United Kingdom),Saint-Gobain (France),Schneider Electric (France),SEKEM Holding (Egypt),Sindicatum (Singapore),SkyPower (Canada),Solvay (Belgium),SSE (United Kingdom),Statkraft (Norway),Suez Environnement (France),Total (France),Unilever (United Kingdom),VEOLIA (France),Visão Sustentável (Brazil),Wesfarmers (Australia).

Business organisations 0
Research and educational organisations 0
Non-governmental organisations 0
National states 0
Governmental actors 0
Regional / state / county actors 0
City / municipal actors 0
Intergovernmental organisations 0
Financial Institutions 11 Atmoterra (France),  Bank Australia (Australia),  Grupo Financiero Banorte (Mexico),  National Australia Bank (Australia),  Nature Bank (Canada),  Nordea Bank (Sweden),  ŞEKERBANK T.A.Ş. (Turkey),  T.GARANTİ BANKASI A.Ş. (Turkey),  T.SINAİ KALKINMA BANKASI A.Ş. (Turkey),  Westpac Banking Corporation (Australia),  Zenith Bank (Nigeria).
Other members 0
Supporting partners 0
Number of members in the years
2019
74
Have only national states as participators No


Theme

Transport Agriculture Forestry Business Financial institutions Buildings Industry Waste Cities and subnational governments Short Term Pollutants International maritime transport Energy Supply Fluorinated gases Energy efficiency Renewable energy Supply chain emission reductions Adaptation Other Resilience Innovation Energy Access and Efficiency Private Finance
No No No Yes No No No No No No No No No No No No No No No No No No
Last update: 25 September 2019 11:04:54

Not only have national states as participators