BG Group has joined the World Bank Carbon Pricing Leadership Coalition (CPLC).
The CPLC is an initiative that brings together over 85 governments, corporate and civil society organisations to collaborate on carbon pricing systems and policies.
BG Group has also made public the internal carbon screening values it uses when reviewing investment decisions.
The Group has been valuing carbon internally for a number of years, to plan for the cost of carbon emissions under existing carbon pricing regimes, and the impact of future carbon pricing systems, on its projects. This has enabled the Group to identify design options that improve energy efficiency and reduce emissions.
Helge Lund, BG Group Chief Executive, said: "Carbon pricing will be a critical component in the world’s battle to tackle climate change. Putting a price on carbon will reflect its cost to society. It creates transparency among carbon producers, and will encourage the development of more efficient carbon reduction technologies. BG Group has today joined the CPLC and made public the carbon screening values we use when evaluating new investment, to assist in developing, and expanding the evidence base for, effective carbon pricing systems."
In a statement, BG Group said that it believes stable, long-term, globally-linked carbon pricing will provide the most effective policy framework and is necessary to provide a clear roadmap for its future investments.
BG Group has also been named a Caring for Climate Carbon Pricing Champion by aligning with the Business Leadership Criteria on Carbon Pricing.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17112015/bg-joins-world-bank-cplc-1639/