2012-11-19. Shell, Swiss Re want ‘unambiguous price on carbon’

posted Nov 21, 2012, 8:50 AM by Alan Gould
| By Ben Geman, The Hill. An article relevant to GSS Climate Change chapter 9. Excerpt:  Over 100 corporations including Royal Dutch Shell, food and consumer products giant Unilever, and the big re-insurer Swiss Re called Monday for a “clear, transparent and unambiguous price on carbon emissions.” Their joint statement arrives ahead of the next round of United Nations climate talks in Doha, Qatar, that gets under way in late November. “The private sector invests trillions of dollars into energy and other infrastructure projects, but, in most cases the goal of reducing [greenhouse gas] emissions does not guide such spending. A more effective approach is required, one that provides the right incentives to shift this private investment and makes best use of the limited pool of public funds,” states the “carbon price communiqué” released Monday. The companies say that creating a cost for carbon emissions should be part of nation-based climate policies that can eventually be interwoven. Policies to “price carbon” include a tax on emissions, and imposing a cap on emissions coupled with the buying and selling of emissions credits among polluters. The companies say that while there are multiple ways to set a price on emissions, they prefer market-based approaches like emissions credit trading “which offer both environmental integrity and flexibility for business.” However, proposals to price carbon have sputtered in the U.S. and face long odds politically. Cap-and-trade legislation collapsed in Congress in 2010. Read the full article: http://thehill.com/blogs/e2-wire/e2-wire/268703-shell-swiss-re-want-unambiguous-price-on-carbon