16.09.09

Businesses that delay taking action on reducing their energy consumption and GHG emissions risk paying a much higher price in the future, reports Envido.

The investment conundrum is whether to spend now to avoid spending later- this is the nub of the climate change challenge. Climate change is already happening and the projections from the government and scientists are stark. The commercial response to climate change is either an attitude that action is a discretionary cost that can wait until economic recovery, or it is a significant realisation that renewable energy and investment in low carbon technologies and energy efficiency measures offer business incentives and competitive advantage.

Businesses that implement energy efficiency projects, use low-carbon energy and reduce their carbon footprints will get support from the government. A low-carbon business will be a minimum to remain competitive in the new arena of climate change. The UK government's announcement of the Low Carbon Transition Plan demonstrates that this is the start of increasing intervention by the government and by governments globally over the next decades to mitigate our contribution to climate change.

Getting business and industry as well as individuals on board is an imperative for the success of its climate change objectives so we must act now to avoid facing future risks and costs.