Preparing for Carbon Pricing: Case Studies from Company Experience
TECHNICAL NOTE 9 | JANUARY 2015 Preparing for Carbon Pricing Case Studies from Company Experience: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company Acknowledgments and Methodology This Technical Note was prepared for the PMR Secretariat by Janet Peace, Tim Juliani, Anthony Mansell, and Jason Ye (Center for Climate and Energy Solutions—C2ES), with input and supervision from Pierre Guigon and Sarah Moyer (PMR Secretariat). The note comprises case studies with three companies: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E). All three have operated in jurisdictions where carbon emissions are regulated. This note captures their experiences and lessons learned preparing for and operating under policies that price carbon emissions. The following information sources were used during the research for these case studies: 1. Interviews conducted between February and October 2014 with current and former employees who had first-hand knowledge of these companies’ activities related to preparing for and operating under carbon pricing regulation. 2. Publicly available resources, including corporate sustainability reports, annual reports, and Carbon Disclosure Project responses. 3. Internal company review of the draft case studies. 4. C2ES’s history of engagement with corporations on carbon pricing policies. Early insights from this research were presented at a business-government dialogue co-hosted by the PMR, the International Finance Corporation, and the Business-PMR of the International Emissions Trading Association (IETA) in Cologne, Germany, in May 2014. Feedback from that event has also been incorporated into the final version. We would like to acknowledge experts at Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E)—among whom Laurel Green, David Hone, Sue Lacey and Neil Marshman—for their collaboration and for sharing insights during the preparation of the report.
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