Internal Carbon Pricing (ICP) is a tool companies use to assign a monetary value to their own greenhouse‑gas emissions , even if they don’t yet pay an external carbon tax. It’s an internal accounting mechanism that helps them anticipate future carbon costs , guide investments , and steer strategy toward a low‑carbon model. “We assume each tonne of CO₂  we emit costs  us  X  dollars — and use that assumption when we make business decisions.” Types of Internal Carbon Pricing