Companies should engage government and lobby for regulation to speed up the development of low carbon solutions. On the way up to the Cancun Summit, the world’s largest organizations are reporting to the Carbon Disclosure Project (CDP) that they see 'significant' opportunities related to climate change, and that carbon is increasingly becoming a strategic management priority. Governments across the globe now need to support industry in realizing these carbon-related economic opportunities.
There is considerable economic potential for business in the shift to a low-carbon and energy-secure economy, and that is a force that is clearly driving innovation and progress. Companies like British Sky Broadcasting in the UK have reduced customers' carbon emissions by around 124,000 tonnes. However, while some companies are hesitating on taking action to manage carbon until regulation has set in, many other companies are already grasping opportunities. However, despite businesses are moving towards a low carbon economy, an international agreement on long-term carbon reduction targets would give business the certainty required to stimulate the full level of investment that is needed to speed up the development of low carbon solutions.
Only 35% of the world's 500 largest companies are driving the low-carbon economy
Governments everywhere must understand where climate change opportunities lie and know how best to support industry in carbon mitigation and carbon reduction efforts, whereas it's up to businesses to communicate this message through their own case studies. Although, an increasing number of companies are reporting on carbon reduction targets (a four-fold increase in 2010 since the CDP first started the corporate reporting process eight years ago), only 35% of the world's 500 largest companies are engaging with policy agencies and governments to drive climate change mitigation and adaptation.