EY | Assurance | Tax | Transactions | Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member organizations of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. About EY’s Climate Change and Sustainability Services Governments and organizations around the world are increasingly focusing on the environmental, social and economic impacts of climate change and the drive for sustainability. Businesses may face new regulatory requirements and rising stakeholder concerns. There may be opportunities for cost reduction and revenue generation. Embedding a sustainable approach into core business activities could be a complex transformation to create long-term shareholder value. The industries and countries in which businesses choose to operate, along with extended business relationships may introduce specific challenges, responsibilities and opportunities. Our global, multidisciplinary team combines our experience in assurance, tax, transactions and advisory services with climate change and sustainability knowledge in all industries. We provide tailored services supported by global methodologies to address specific business issues. Wherever a business may be in the world, EY can provide the right professionals to support that organization’s particular sustainability goals. © 2015 EYGM Limited. All Rights Reserved. EYG no: AU3643 15011-1745627 ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. The views of the third parties set out in this publication are not necessarily the views of the global EY organization or its member firms. Moreover, they should be seen in the context of the time they were made. EY Global Limited thanks Institutional Investor LLC for conducting this research and writing this report. Climate Change and Sustainability Services Area contacts Americas EMEIA Global, Europe, Middle East, India and Africa (EMEIA) Jeanna Doherty Alexis Gazzo Juan Costa Climent Contact | +1 860 725 3835 Contact | +33 1 46 93 63 98 Contact | +34 915 727 381 E: [email protected] E: [email protected] E: [email protected] Asia-Pacific Japan Mathew Nelson Keiichi Ushijima Contact | +61 3 9288 8121 Contact | +81 3 3503 3292 E: [email protected] E: [email protected] 20 I Shifting the carbon pricing debate