Trucost has announced the release of its Corporate Carbon Pricing Tool, providing companies with an insight into carbon pricing mechanisms, with the aim of helping businesses to better see the potential in greener products and business models.
The tool allows companies to analyse potential carbon pricing risks until 2030 using data from their greenhouse gas emissions and financial performance, with Trucost having curated a database of global carbon regulations, taxes, analytical data and predictions.
“Companies are trying to make sense of the pace at which legislators in different countries, states and cities are implementing carbon regulations,” said Libby Bernick, Global Head of Corporate Business for Trucost.
“Because these regulations could drive up the cost of fossil-fuel-based energy and carbon-intensive raw materials, increasing operating costs and reducing profit margins, companies need robust data and analytics to help inform financial decisions over investments in energy efficiency, low-carbon innovation and renewable energy.
“Trucost’s Corporate Carbon Pricing Tool provides a solution for companies that want to get ahead of carbon regulation and continue to grow their businesses.”
The tool takes into account the goals of the Paris Agreement to limit global warming to a maximum of 2°C, quantifying current pricing schemes with potential future scenarios to provide a better insight to companies.