PALcarbon – The Carbon Pricing App
PALcarbon is produced by Predict Ability Ltd (PAL). PALcarbon gives scientifically calculated, real-time carbon pricing across all energy types, including renewables. Features include:
- Dollar prices on damage attributable to climate change per tonne of CO2 emitted,
- Selected fuel and energy types price-weighted by their CO2 impact and usage
- A future-proofed pricing scheme for fossil fuel and renewable energy types that will work even after CO2 emissions cease
- A benchmark carbon price ‘floor’ for existing ‘cap and trade’ emissions trading systems such as the EU ETS
PALcarbon updates prices intraday in conjunction with availability of latest global temperature anomaly data and – most importantly – can be used to address the ‘consequences of carbon’ that will continue to cause damage in the atmosphere for centuries to come.
PALcarbon – The Science
The PALcarbon app is the data and calculation vehicle that Predict Ability Ltd has published as the world’s first independent, scientifically robust scheme for a fair and meaningful approach to dealing with past, present and future carbon emissions. It has a major advantage over existing cap and trade systems: it is not vulnerable to political manipulation.
The science that underpins PALcarbon is explained in ‘The Price of Carbon: a handbook for tackling climate change, Vol.1’. Written by Richard H. Clarke, Director (Research), Predict Ability Ltd, this handbook is published on the PAL website at http://www.predictability.ltd.uk.
CO2 emissions are not going to stop any time soon, and their consequences will last for hundreds of years. PALcarbon is a common sense pricing algorithm for a carbon world.
PAL provides carbon pricing software, services and business solutions that help financial institutions and public agencies understand, quantify and track their carbon risk exposure.