At a Glance
Industrial Goods and Manufacturing
Data Analysis, Goals/Targets, Sustainability and Energy Management Strategy
Caitlin Maggio provided The Chemours Company with an analysis of existing carbon pricing frameworks and offered a plan for implementing an internal carbon price on emissions.
Chemours has already begun making progress against its ambitious goals and continues advancing each day. Recently, Chemours enlisted EDF Climate Corps fellow Caitlin Maggio to evaluate the viability of setting a Science-Based Target for GHG emissions reductions and implementing an internal carbon price on emissions. Caitlin’s work addresses the chemical industry’s unique challenges in reducing carbon emissions and explores ways the industry could operate more sustainably in its long-term business practices.
Maggio began by researching and evaluating international carbon pricing data that included carbon taxes, emissions trading systems, the social cost of carbon, and various internal carbon pricing schemes. By benchmarking chemical industry peers using existing internal carbon prices she was able to provide a clear picture of the existing global trends. Through this evaluation, she developed recommendations for three different carbon price frameworks and the associated use methodologies. Maggio then outlined the next steps Chemours could consider for incorporating an internal carbon pricing strategy into existing business practices.
Maggio’s analysis provides a framework for better long-term investment decisions as it allows management to monetize and evaluate the impact of potential carbon taxes and climate risks. When implemented, this could lead to innovation and efficiency within existing business processes and ultimately aid in the long-term strategy to reduce GHG emissions.