BG Group joins carbon pricing initiative

LNG major BG Group said it has joined the World Bank Carbon Pricing Leadership Coalition (CPLC) to collaborate on carbon pricing systems and policies.

The CLPC is an initiative which brings together over 85 governments, corporate and civil society organisations.

The group has also made public the carbon screening values it uses when evaluating new investment and when planning for the cost of carbon emissions under existing carbon pricing regimes, and the impact of future carbon pricing systems on its projects, BG Group informed in a statement on Tuesday.

Helge Lund, BG Group Chief Executive, said, “Carbon pricing will be a critical component in the world’s battle to tackle climate change. It creates transparency among carbon producers, and will encourage the development of more efficient carbon reduction technologies.”

In May 2015 BG Group issued a joint letter with the CEOs of five other European oil and gas majors advocating for carbon pricing.

Although carbon pricing will potentially add to future costs, BG Group 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.

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Image: BG Group

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