The role of business
Business has already made significant progress in responding to the climate change agenda. It has a major role to play both in finding and implementing solutions to the challenge of climate change
Business has responsibility to produce greener alternatives to current products and services while simultaneously providing consumers with reliable communications so that they can make informed choices. Business will need to incorporate climate change policies into its DNA. In a low-carbon future, companies will have to be green to grow.
The development and deployment of low-carbon technologies will be key to delivering the emissions cuts required to meet the government's 80% climate change targets. Business's role as both investor and innovator will ensure the UK is ready to exploit the potential of a low-carbon economy.
The UK's ambition to improve energy efficiency and security will also be influenced by business, both in providing low-carbon energy sources and improving the country's energy efficiency. Business will need to redouble its efforts to become more energy efficient, by focusing on areas such as transport and buildings.
The business community will need to become flexible in order to adapt to a changing climate. It will have to adjust to risks internally and down-supply chains within investments. The nature of climate change dictates that all businesses take ownership of climate risks. Those that are most resilient will have an implicit lead over their competitors.