16 - Integrating Climate into our Strategy Advocating for Carbon Pricing Clear economic signals over the medium to long term are vital to reduce greenhouse gas emissions. We encourage the development of linked carbon pricing mechanisms in the main economic regions. A price of between USD 30 and USD 40 per ton would be enough to: - Promote the switch from coal to gas; gas emits only half as much CO2 as coal in power generation. -S  teer investment toward the technologies required to reduce emissions, such as carbon capture, use and storage. Around 40 regions and countries and 20 cities have already implemented a carbon pricing mechanism or are planning to do so1. Generally speaking, clear rules are needed to support the transition to a lower-carbon economy. They must provide information on public policy, facilitate long-term investment and prevent unfair competition. International carbon credit mechanisms must also be maintained and/or implemented to foster the development of projects offering the highest emissions cuts at the lowest cost. We participate constructively in discussions with the public authorities, associations and our peers to share our ideas and recommend solutions. LOBBYING ETHICS CHARTER We have adopted a lobbying ethics charter that is published on our website. It governs our practices and ensures that our publicly stated positions are consistent with those conveyed through our lobbying, either directly or indirectly, through professional organizations or associations. The consensus required by these organizations does not always reflect our position. In such cases, we believe that it is preferable to promote our ideas from within by working to convince our peers of our position, rather than leave the discussions. Our participation in these organizations, beneficial in many ways including sharing of best practices, does not prevent us from publicly defending our positions, even when they differ from those of the organizations to which we belong. In the event of a difference, Total’s position prevails. Mindful of the need to be fully transparent on climate-related issues, we are committed to publishing a list of all the professional organizations and associations of which we are a member. Long-Standing Involvement We have campaigned for the introduction of carbon pricing since 2008. 2008 We begin factoring a carbon price of €25 per ton into our investment decisions. 1 2014 We support the U.N. Global Compact’s Business Leadership Criteria on Carbon Pricing. 2015 Paying for Carbon: Total and six other leading oil and gas companies call on the international community to implement carbon pricing mechanisms. 2016 We help to deploy the World Bank’s Carbon Pricing Leadership Coalition. We review our internal carbon price, setting it at between USD 30 and USD 40 per ton, depending on the price of oil. More generally, several countries that have filed their Intended Nationally Determined Contributions (INDC) have declared that they are in favor of market mechanisms.