ExxonMobil anticipates $60 carbon price
The Climate Disclosure Project recently published a report analyzing the carbon emissions of some of the largest businesses in the world.
The CDP analysis revealed that many companies are already factoring carbon prices into their long-term growth plans.
Major oil producers like ExxonMobil, Chevron, Shell, and BP are preparing for future carbon regulation.
ExxonMobil expects carbon prices to reach $60 per ton by 2030.
Other industry leaders like Google, GE, Walt Disney, Microsoft, Wells Fargo, and Delta Air Lines have also positioned themselves for compliance with future emission restrictions.
President Obama tasked the Environmental Protection Agency (EPA) with establishing emission standards for power plants that will be released next year.
California has already established a carbon market, regulating the emissions of its major emitters. The California carbon market will cover 85% of total state emissions by 2020.
Quebec will be linking with the California carbon market next year, demonstrating the shift towards emissions regulations.
(12/11/13)