Oct 12, 2017

8x jump in companies pricing in cost of carbon since 2014

Former California Gov. Arnold Schwarzenegger speaks as Gov. Jerry Brown, left, listens at a climate bill signing. Photo: Eric Risberg / AP

Nearly 1,400 companies apply an internal mechanism to price carbon emissions, a jump from 150 just four years ago, according to a report from non-profit group CDP.

Why it matters: The more than eightfold increase shows how seriously corporate America is taking the issue. The internal mechanisms indicate companies are preparing for an eventual external price on carbon, even if that's further off now with President Trump in the White House. It also reflects increasing investor concerns about the risks climate change can bring companies.

Key takeaways:

  • The report shows China in particular has had a 40% increase in companies applying an internal carbon pricing mechanism over the last year.
  • Over three-quarters of the energy and utilities' market cap is using carbon-pricing systems, including PG&E Corporation and National Grid.
  • The Trump factor, per the report: "Despite political uncertainty in the United States concerning climate-related regulation, the number of U.S. companies reporting the use of an internal carbon price continues…" 96 are already carbon pricing and 142 have plans to implement one by 2019. California in particular extended its cap-and-trade system to 2030.

Go deeper: Axios reporter Amy Harder delved into this issue in two separate columns: Wall Street is starting to care about climate change and Corporate America isn't backing Trump on climate.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 1,309, 439 — Total deaths: 72,638 — Total recoveries: 273,546Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 347, 003 — Total deaths: 10,335 — Total recoveries: 18,953Map.
  3. 2020 update: Wisconsin governor issues executive order to delay in-person primary voting until June.
  4. Public health latest: Asymptomatic children could play important role in coronavirus spread, new data from the CDC shows.
  5. States' latest: West coast states send ventilators to New York and other states experiencing a more immediate need — Data suggests coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  6. Jobs latest: Unemployment could already be at 13% "and moving higher," per former Federal Reserve Chair Janet Yellen.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Wisconsin governor issues order to delay in-person primary voting until June

Photo: Nuccio DiNuzzo/Getty Images

Wisconsin Gov. Tony Evers (D) issued an executive order Monday delaying in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.

Why it matters: Wisconsin was slated to be the only state to vote on Tuesday amid the coronavirus pandemic, despite having a stay-at-home order in place.

Go deeperArrow50 mins ago - Health

U.S. coronavirus updates: Death toll reaches 10,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 10,000 in the U.S. on Monday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday the coming week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

Go deeperArrowUpdated 56 mins ago - Health