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Throughout your carbon management journey, you will face some trade-offs in resource allocation. Whether voluntarily or to comply with regulations, putting a price on carbon emissions can help inform financial decisions.
Companies should be aware that carbon pricing initiatives are a highly effective strategy for governments to close the gap between climate targets and implementation. Carbon pricing reduces both the carbon intensity of energy supply and overall energy demand through a clear price signal.
There were 64 carbon pricing initiatives in place in 2021, half of which are carbon taxes and half of which are emissions trading schemes.
Carbon border adjustment mechanisms are also emerging to ensure competitiveness in countries with high carbon taxes and to avoid the risk of emissions being shifted from one location to another (known as carbon leakage).
As part of their net zero strategy, companies can use internal carbon pricing to assign a monetary value to carbon emissions. CDP's 2021 Global Carbon Price Report highlights that to implement an effective internal carbon price, four dimensions should be considered:
The internal carbon price is one tool that can provide insight into the resource allocations and trade-offs the company will face in implementing its net zero strategy. As with any tool, the effectiveness of the internal carbon price will need to be evaluated over time.
For finance department, it is a good decision-making tool to understand the potential impacts of external carbon pricing schemes and regulations. ICP varies by region and sector. As a quick-win, post the calculations of footprint, you can assign USD 100 as a representative initial cost for every tonne of CO2e emitted (this is the carbon price level needed to incentivise net zero emissions by 2050 - Reuters). This would help you understand the potential exposure and impact on profit and loss statements.
The « sustainability journey » may feel overwhelming sometimes, but you are not alone.
Our Buddies have tried, succeeded, failed to implement change in their companies. They share their experience so you can learn, take shortcuts, get inspired and ask questions.
Everybody can become a Buddy and give back to the community; if you are keen, get in touch with us.
With a background in sustainability consulting and audit, Ivona supports businesses in their sustainability journey by building an impactful strategy, embedding sustainable practices across operations, and reporting performance to stakeholders.
She is the founder of Sustainao, a Singapore-based company specialized in sustainability consulting. Previously, Ivona worked as a sustainability auditor at KPMG France. She holds an MBA in CSR & Sustainability and a Master’s degree in Environmental Management.
Radhika is the Co-founder of Tulyā, A Sustainability Management Accounting (SMA) Services company. Her work includes measurement and understanding of the impact environmental and social factors will have on the value creation for SMEs. She develops tailored tools and practices that integrate material topics (ESG & Business) with accounting statements line items to demonstrate financial impact of action vs inaction.
She has worked with Lehman Brothers, Barclays and IT services companies before starting her entrepreneurial journey in sustainability.
She is a graduate in Chemical Engineering and has been certified in SASB , PMP, CSM & Design Thinking-MIT.
I enjoy improving processes and creating data-driven insights. My background is in process development and operations as Quality Manager and COO. A few years back, I decided to re-purpose my career and have since then studied different aspects of Sustainable Business Development at the University in Sweden as well as the Sustainability Reporting Standards (GRI, SASB, TCFD and ISSB work in progress).
Now, I am here to help SMEs integrate sustainability into their business strategy and operations, focusing on the impact that environmental and social aspects will have on the organisation's ability to create value. By reducing the scope to the most relevant materiality topics, even SMEs with limited resources have a chance to start their transition to more sustainable practices.
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At South Pole, Chris supports Asian clients in their climate leadership and circular economy journey. The scope of services includes both carbon credits & sustainability consultancy. Chris currently manages clients from more than 10 Asian countries in categories such as conglomerate, agriculture, property development, asset management, retailing, information technology, and energy.
I work at Terrascope, which offers an end-to-end decarbonisation SaaS platform that enables enterprises to measure and manage their Scope-1, Scope-2 and Scope-3 emissions across operations, supply chains, and portfolios. As Climate Regulations Specialist, I help ensure that our product stays ahead of the regulatory curve and advise clients to navigate the dynamic and complex climate regulatory landscape.
Prior to joining Terrascope, I worked at EcoVadis - a global ESG ratings company - where I launched its Singapore office which served more than 800 companies within its first year of operations. The ratings include environmental, social, ethics and sustainable procurement metrics.
I started my career with the Singapore Government, spanning portfolios including manpower, education, transport and decarbonisation. I also helped spearhead the government's measures to fight Covid-19.
I graduated from the London School of Economics, SciencesPo Paris, and Oxford University. As an undergraduate at Oxford, I helped launch the inaugural Oxford Climate Forum - the UK's largest student-run climate change event.
I was born in Vietnam and grew up in France in Paris’ low income suburbs. My parents used to bring us to the park to have some outdoor activities and that’s where my father taught my siblings and I to observe, love and respect nature. He gave us perspective on our place in a much bigger ecosystem.
At that time, we didn’t describe our family as “sustainable”. It was very pragmatic, we didn’t waste anything, we mended everything, saved and reused, because we just couldn’t afford not to :)
In 2018 in Singapore, after what felt like a long, unfulfilling professional tunnel on autopilot, I was forced to make a pause and took the opportunity to consider what I really wanted to do with my life (I know this resonates with many!)
Then I really realised how passionate I was about sustainability and for the first time, I considered making it my job. Nothing is easy when you don’t hold the right degrees or the right amount of money, so I co-created The Matcha Initiative to jump into action instead of procrastinating. That’s how you start an amazing experience with amazing people :)
Cherry on the cake: TMI helped me land my current job at Handprint, where we help businesses embrace the next step - Regeneration.
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As the Senior Programme Manager for Sustainability Validation and Verification at TÜV SÜD, Mei Yee helps organisations add credibility and assurance to their greenhouse gases (GHG) emission assertations and GRI reports by providing third-party verification reports to support organizational claims.
She has six years of experience in the standards development of ISO 30500 and ISO 31800, testing, and certification for non-sewered sanitation systems. Prior to that, Mei Yee spearheaded World Toilet Organization's Rainbow School Toilet projects in China and Sanishop in Cambodia. She is passionate about driving corporate social responsibility and sustainability and has spent more than 18 years in various fields working internationally across teams and cultural boundaries before turning her focus on Singapore to helping companies with their carbon reduction journey. She holds a Masters in Community Water and Sanitation and a Science Degree in Earth Science, majoring in geology and physical geography.
She is a certified WSQ Advanced Certificate in Learning and Performance (ACLP) Train-The-Trainer (TTT). Since then, she has facilitated many companies in the training for Green Compass – An environmental assessment framework targeted at SME/ manufacturing industries.
Passionate about sustainability and technology, I have spent the last 10 years working in the energy, tech and sustainability sectors. I am VP of Sales at Zuno Carbon, a climate-tech providing end to end carbon management and ESG reporting solutions.
