Internal carbon pricing is a powerful tool the private sector can employ to reduce carbon emissions. Towards fostering the change from “business as usual”, this report presents emerging practices in internal carbon pricing and a pragmatic, 5-step guide for implementing a price on carbon within your company. By putting a price on carbon, society can hold emitters responsible for the serious costs of adding GHG emissions to the atmosphere; these costs include polluted air, warming temperatures, and various attendants ills (threats to public health and to food and water supplies, increased risk of certain dangerous weather events). The toolkit is a product of the Carbon Pricing in Higher Education Working Group, a collaboration of institutions interested in internal carbon pricing. This fall the nonprofit global environmental disclosure platform CDP published a new report revealing the extent of this shift. The spread of internal carbon pricing could signal greater support for carbon pricing by governments. Stable and well-designed carbon pricing adds a cost to energy production and energy products, but it also provides a basis for future investment and a level playing field for all energy sources. The carbon tax sets the level of demand and supply at the social optimum and avoids an externality if set on the right price. A recent CDP report outlines three major benefits of internal corporate carbon pricing: navigating regulation, sourcing requirements, and carbon efficiency. A key aspect of carbon pricing is the “polluter pays” principle. A carbon tax is a tax that is levied on carbon and is a form of carbon pricing. In a new briefing paper, Guidehouse describes how internal carbon pricing (ICP) can help to future-proof supply chains against emerging policy and climate transition risks. In the US, we support cap and invest programmes because we believe well-designed carbon pricing provides everyone incentives to help reduce emissions. While policy tools and guidance exist for carbon pricing at the national level, it is not clear how implementation might differ in a business environment or another setting. The number of companies using internal carbon pricing to assess and control the carbon impact of their operations has jumped eightfold in the last four years, according to new research from CDP, driven by the rollout of carbon trading schemes in states and countries around the world. This report seeks to address the question of how an organization should design and implement an internal carbon charge. 2. This toolkit provides recommendations, examples, and tools to guide schools through the process of exploring, designing, and implementing a carbon price on campus. Internal carbon pricing is a means for companies not only to manage risks but also to pursue opportunities. It is a proven policy to reduce greenhouse gas emissions. Over the past four years, the number of global companies that factor or are planning to factor an internal carbon price into their business plans jumped from 150 to 1,400. How-to guide to corporate internal carbon pricing - Four dimensions to best practice approaches (Ecofys, The Generation Foundation and CDP, 2017) Internal Carbon Pricing – Stress Testing Business for Climate Change Risk ( Talking Points brief from Trucost, a division of S&P Global, 2017) Putting a price on carbon is becoming the norm for multinationals. Companies that track their greenhouse gas emissions and implement an internal price on carbon are better prepared for a regulatory future in which carbon is priced. 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