A federal court allows the Obama administration to incorporate the price of global destruction.
Read the full article at: www.bloomberg.com
If the social cost of carbon is not on your radar, perhaps it is time to put it there. Now that the US government requires that all departments factor projected costs of climate into what they do, a new and permanent line on federal balance sheets has been mandated.You may want to think of this cost as a new overhead charge — the social cost of carbon that is defined as an estimate of future damages in current dollars.
As the article points out, many companies already have a line item for climate change, but the value has been zero up until now. What might this mean for your company? Perhaps it is time for focused discussions to quantify the potential risks and costs that your company may be exposed to, creation of priorities to address exposures and a roadmap to realize your priorities. Be sure to partner with a trusted party who can help guide and shape a potentially challenging journey.