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With carbon taxes and regulations on the rise, companies must proactively manage their carbon expenses as part of their business decisions — just as they do their financial expenses.
Proactive inclusion of carbon costs is the only way to minimize future risks and burdens that will come as more mandatory carbon taxes arrive. Failing to act now could result in significant financial and regulatory burdens in the near future.
The European Union’s Carbon Border Adjustment Mechanism (CBAM) is one such example of impending regulations. Businesses exporting into the EU from outside can use internal carbon pricing (ICP) as a mechanism to effectively allocate the cost to greenhouse gas emissions directly into their products.
