ANNOUNCEMENTS
This report identifies types of Carbon Prices that are influencing the carbon market today. Carbon market refers to the market in which carbon credits/carbon certificates are bought and sold, within defined standards, for the prevention or reduction of GHGs. Carbon Pricing is the cost attached to the greenhouse gas emissions to hold emitters responsible and change their behaviour. Internal carbon pricing is a voluntary method for companies to internalize the implicit (actual or expected) cost of carbon under various policies and regulations. This method improves environmental reporting of firms and adjusts to improve return on asset valuation. The report has identified reasons why accounting for carbon is necessary through various laws, standards and practices, specifically in the Oil and Gas sector. It identifies the implications of Carbon Pricing imposed by countries and Internal Carbon Pricing imposed by companies on their carbon emissions and also identifies the drivers of Sustainability Reporting.
Keywords: Oil and Gas, Internal Carbon Pricing, Carbon, Net-zero, Greenhouse Gas.
