Uniquely, in today’s emerging arena of carbon auditing, PAL offers future-proofed carbon-pricing relevant to every industry as well as all existing and future energy sources. PAL’s Enhanced Carbon Auditing (ECA) far exceeds the reach of conventional carbon-auditing remits, by rationally quantifying the associated financial impact throughout the Life Cycle Assessment (LCA) – currently and, most notably, to 2050 and beyond. Furthermore, PAL has now pioneered and developed a major new strategy enabling financial enterprises to protect themselves against the threat of future carbon liability costs. This is ‘Carbon Pay’.
Edward Coe, of PAL, said “We are fully committed to supporting the adoption of a universal and transparent carbon price. Joining the CPLC partnership is a positive step and we look forward to working with the coalition to further the goal of reducing the financial cost of climate change”.
PAL is committed to determining a fair and credible carbon price. Published by PAL in June 2016, the book Predicting the Price of Carbon: How to tackle the climate change code for good by Richard Clarke, Director (Research) at PAL addresses the goals and strategies for tackling climate change and sets out the methodology of PAL’s carbon pricing system.
PAL’s suite of complementary products and services covers every aspect of evaluating loss and damage caused by manmade climate change to provide Carbon Pricing, Enhanced Carbon Auditing and the associated current and projected carbon liability:
- Carbon Pay: an exciting new climate finance marketplace bringing together your enterprise (business, city corporation, regional and national governments) with AIMS (Adaptation, Insurance, Mitigation, Social) projects and programs. Enterprises channel investment to AIMS beneficiaries of their choice through financial instruments.
- Enhanced Carbon Auditing (ECA): Our bespoke audits provide in-depth financial analysis of the real $/£/€ carbon costs impacting your enterprise. Effective carbon costing for Life Cycle Assessments (LCA) of projects such as the ‘Hinkley Point’ nuclear power station can optimise decision-making and reduce costs.
- Carbon Pricing: Our real-time carbon pricing data factors in the real cost of damage caused by carbon emissions – past, present and future. A particular problem in carbon pricing is that a one-size-fits-all carbon price is a blunt instrument for encouraging behavioural change. A spectrum of prices based on impact (PAL’s Carbon Intensity Weighting) is more effective as well as future-proof.
- Catastrophe Loss Modelling: Our software product PALgamma provides algorithm-based forecasting of extreme weather related disaster trends and loss events. It clearly identifies the financial impact of man-made climate change.
This article first appeared on CPLC, 25th November 2016.
PAL provides carbon pricing software, services and business solutions that help financial institutions and public agencies understand, quantify and track their carbon risk exposure.