In an effort to better understand the business perspectives on climate action, and given EY’s participation to the Carbon Pricing Leadership Coalition, EY is releasing a study on current business attitudes toward carbon pricing. This global survey of more than 100 executives shows that consensus is building around the idea of carbon pricing and that companies are increasingly open to taking independent carbon pricing action, expecting it may actually improve overall performance.
The survey results indicate that 48% of respondents say their company is in favor of carbon pricing, with just 7% saying that they are against it. Looking at the findings regionally, 64% in Europe and 59% in emerging markets are in favor of carbon pricing, compared to the US where just 18% of companies were in favor. Strikingly, 78% of respondents say that that carbon pricing would have a strong positive impact on fostering innovation, triggering initiatives that are beneficial to performance and not just compliance, and 50% believe that carbon pricing will have a positive impact on their overall competitiveness.
EY wishes to thank the following individuals and organizations for their consideration and input during the preparation of this report:
Jose Manuel Entrecanales Domecq, CEO
Gérard Mestrallet, CEO
Jean-Pierre Clamadieu, CEO
Lila Karbassi and Jayoung Park
UN Global Compact
World Bank Group