• Who We Are
    • The Climate Trust
    • Climate Trust Capital
    • Achievements
    • Leadership And Board Of Directors
  • What We Do
    • Action
    • Impact
    • Case Studies
  • Financials
  • Media
    • Blog
    • News & Press
The Climate Trust | Commodity Futures Trading Commission Report Recommends Price on Carbon

Commodity Futures Trading Commission Report Recommends Price on Carbon

Climate Finance, Scorcher

As this summer’s horrific fire season rages, a report commissioned by the Trump administration’s bipartisan Commodity Futures Trading Commission warns of financial upheaval due to climate change and states its fundamental finding:

“Financial markets will only be able to channel resources efficiently to activities that reduce greenhouse gas emissions if an economy wide price on carbon is in place at a level that reflects the true social cost of those emissions.”

The report was authored and unanimously endorsed by a diverse Climate-Related Market Risk Subcommittee that included representatives from major corporations and financial firms including Morgan Stanley, BP, World Resources Institute, Dairy Farmers of America, Environmental Defense Fund, JPMorgan Chase, Vanguard, Citigroup, Cargill, and others. Engagement in advancing carbon pricing policy by corporations has been generally limited to date. This report could mark a turning point. Its commissioning and conclusion signals an increased awareness of the potentially ruinous financial consequences of failing to address climate change.

While the findings of the report are not necessarily new to the recipients of this email, this report is momentous because it is the first wide-ranging federal government report analyzing the threat of climate change on US financial markets. Furthermore, the authoring of this report by representatives of a number of America’s largest corporations hopefully signals their willingness to meaningfully begin supporting a price on carbon. A number of businesses already support carbon pricing. In the Pacific Northwest, the Low Carbon Prosperity Institute and Oregon Business for Climate represent pro-carbon pricing business.

 

Resources:

Climate-Related Market Risk Subcommittee, U.S. Commodity Futures Trading Commission. September 9, 2020. Managing Climate Risk in the U.S. Financial System Report.

Coral Davenport and Jeanna Smialek, New York Times. September 8, 2020. Federal Report Warns of Financial Havoc From Climate Change.

Low Carbon Prosperity Institute

Oregon Business for Climate

Tags
Adaptation
Aggregation
American Carbon Registry
Biochar
Blue Carbon
C-AGG
California Air Resources Board
California Carbon Info
Cap and Invest
carbon offset standards
Carbon Pricing
Carbon-Pulse
Clean Power Plan
Climate Action Reserve
Climate Bonds
Conservation Finance Network
Corporate Social Responsibility
CORSIA
Culture
Dairy Digester
Ecosystem Marketplace
Edible Portland
Energy Central
Environmental Defense Fund
Environmental Justice
EPAF
Farm Power Northwest
GreenBiz
IPCC
Job Announcement
Leadership
Low Carbon Fuel Standard
Milestone
Oregon Carbon Dioxide Standard
Oregon Clean Fuels Program
Oregon Energy Facility Siting Council
Oregon Global Warming Commission
Pacific Coast Action Plan on Climate and Energy
Paris
Portland General Electric
REDD
Renewable Fuel Standard
Renewable Identification Numbers
Request For Proposal
RGGI
Rice
Risk Management
Scientific American
Social Cost of Carbon
Supply Chain
Sustainable Business Oregon
Triple Pundit
USDA Natural Resources Conservation Service
Verified Carbon Standard
Western Climate Initiative
Recent Comments
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
Proud Member Partners in Diversity
  • DONATE
  • CAREERS
  • CONTACT

©2020 The Climate Trust. Crafted by ILLUSIO