Carbon Pay ®
Act on your corporate climate impact today: our carbon price, your choice of beneficiaries.
Carbon Pay is a third way of pricing carbon. Cap and trade is too cumbersome. Carbon taxes are too political. Let’s start in the middle – by determining the right price for carbon, collecting the revenue from corporations (or other entities) and enabling them to allocate it to a range of choices. That’s Carbon Pay. PAL’s price, your choice of beneficiaries.
How it works
Our platform connects carbon emitters with those most affected by climate change and enables allocation of funds for the purpose of AIMS (Adaptation, Insurance, Mitigation and Social fund).
There are five steps in the CARBON PAY proposition:
- A corporation calculates or estimates their carbon emissions. PAL can assist by building fully carbon-costed lifecycle assessments of corporate carbon emissions.
- The corporation states their current carbon pricing scheme (if any)
- PAL calculates their carbon charge
- The corporation selects the beneficiaries of the carbon charge payment from a comprehensive list of organisations worldwide that meet PAL’s AIMS (Adaptation, Insurance, Mitigation and Social fund)
- The corporation executes payment online or otherwise through a third-party payment process. PAL issues certification of receipt of payment
To avoid the worst effects of climate change the world needs to rapidly shift from fossil fuels to renewable energy. Without a global price on carbon there can be no sustainable solution to the impacts of climate change.
Today, the total proportion of carbon emissions that fall under the remit of a carbon pricing scheme is about 12%. Revenue from those schemes is approximately 3% of real cost of damage that emissions are causing our planet, and the effect of all the world’s carbon pricing schemes amounts to about $2.50 per tonne CO2.
Carbon taxation perhaps the most important tool for tackling climate change. If done effectively it can harness the sheer power of the economy to drive change.
What it does
- Provide continuous revenue against the ongoing damage caused by climate change
- Provide revenue allocation to recompense those impacted by climate change
- Incentivise carbon emitters to reinvest in renewables & lower carbon intensive fuels
- Benchmark carbon pricing globally, by country and by organisation
Who’s it for
Carbon Pay is for coporations that want to transform us from a carbon-intense world to a carbon-neutral (or negative) world and, in doing so, redress the imbalances that climate change is already creating globally. It is those at the bottom of the economic pyramid who are most affected.
The philosophy of Carbon Pay is to tax carbon impact across all energy types and use the revenue to fund AIMS:
- Adaptation – improving the capacity of vulnerable communities to weather climate change
- Insurance – enabling insurance companies to bear the costs of climate change and sustain their contractual commitments
- Mitigation – incentivising the transition to low-carbon energy sources
- Social dividend – ‘micro-insurance’ schemes, administered by the insurance industry, the UN and the World Bank, to offset the impact of carbon pricing.
Beneficiaries may be any one of a number of organisations worldwide that meet PAL’s AIMS .
To find out more about becoming a partner: email@example.com