NGSA announced its support for a price on carbon in December 2019, endorsing it as the best approach to achieving cleaner air, keeping energy affordable and reliable for all and incentivizing innovative technologies to further cut or eliminate future carbon emissions. (Insert link to video announcement here.)
Many NGSA member companies incorporate a price on carbon as part of their strategic planning. For example:
- BP – BP has a carbon price for investment decisions for its major projects. BP believes that a well-designed carbon price provides the right incentives for everyone to do their part in reducing emissions.
- ConocoPhillips – ConocoPhillips uses carbon pricing to navigate greenhouse gas (GHG) regulations, change internal behavior, drive energy efficiency and low-carbon investment, and stress-test investments. The company uses a range of estimated future costs of GHG emissions for internal planning purposes, including an estimate of $40 per metric tonne applied beginning in the year 2024 as a sensitivity to evaluate certain future projects and opportunities.
- Equinor – Equinor’s believes that carbon pricing is the most proven and cost-effective way to tackle climate change. Carbon pricing systems, if properly designed, drive fuel switching from coal to gas and investments in energy efficiency and low carbon technologies such as renewables and Carbon Capture and Storage (CCS).
NGSA partnered with a diverse coalition of electric and renewable organizations to request a technical conference at the Federal Energy Regulatory Commission to explore carbon pricing in electric power markets. FERC announced the conference will take place September 30, 2020.
Learn more about NGSA member actions in our blog post as well as our graphic Reaching Climate Goals with Natural Gas.