September 2014: The UN Global Compact and its Caring for Climate initiative partners have issued a call for companies to align with a set of ‘Business Leadership Criteria on Carbon Pricing’ developed to recognize businesses advocating for a price on carbon. Companies aligned with the Leadership Criteria will be featured at the UN Secretary-General’s Climate Summit on 23 September in New York, US.

The call, issued in the UN Global Compact September 2014 newsletter, invites companies to review the Leadership Criteria and indicate alignment with them by sending an e-mail to Caring for Climate. The Criteria, which have been developed by the UN Global Compact, the UN Environment Programme (UNEP), the UNFCCC Secretariat, the Climate Group, the UN Foundation and the Carbon Disclosure Project (CDP), are intended to inspire companies to improve their climate performance, and give recognition to businesses at the forefront of advocating for pricing the cost of carbon emissions.

The Leadership Criteria comprise three overlapping dimensions: integrating carbon pricing into long-term strategies and investment decisions; responsible policy advocacy; and communication on progress. All dimensions are aligned with the 2ºC global mean temperature target. Companies aligning with the Criteria are expected to: set an internal carbon price high enough to materially affect investment decisions to drive down greenhouse gas (GHG) emissions; publicly advocate for carbon pricing through country-specific policy mechanisms; and publicly communicate on progress in the two previous criteria.

The Business Leadership Criteria, together with the ‘Statement on Putting a Price on Carbon’ of the World Bank, will be presented during the Private Sector Forum of the UN Climate Summit on 23 September as examples of commitments to support carbon pricing. The UN Global Compact and the World Bank are aiming for over 50 governments and hundreds of companies to signal their support for the two actions. [UN Global Compact Monthly Bulletin, September 2014] [UN Private Sector Forum Website] [Business Leadership Criteria on Carbon Pricing] [Letter from the UN Global Compact and the World Bank Group] [World Bank Statement on Putting a Price on Carbon]