November 1, 2022
Consumers, investors, and government agencies increasingly demand that greenhouse gas emissions associated with industrial processes, utilities, and other upstream and downstream activities be considered in corporate decision-making.
In their September 2022 article in AIChE's CEP, "Carbonomics: Introduction to Carbon Pricing, Regulations, and Frameworks," Exponent's Achim Wechsung, Christopher Buehler, Jason James, and Ann Michelle Morrison, with co-author Michael Stern, explain why chemical engineers and experts from other fields who develop sustainable technologies or manage sustainability programs should be aware of the economics, regulations, and frameworks surrounding carbon.
From the publication: "Carbonomics, while not a strictly defined term, refers to the economic consideration around the avoidance, generation, release, capture, sequestration, and utilization of carbon," the authors write. "The rapidly changing scientific understanding of carbon accounting and what methods and technologies are most effective for removing carbon from the atmosphere are evolving in real time, creating challenges for engineers, businesses, regulators, and stakeholders."
The article introduces life cycle assessments (LCAs) as a tool to evaluate and quantify carbon footprints, discusses carbon regulations and frameworks, and provides an overview of how these regulations and frameworks can relate to carbon pricing.
To learn more about carbonomics and carbon-pricing regulations and frameworks, read the full article here.