There is an urgent need to transition to a low carbon economy to address the global challenges of diminishing fossil fuel reserves, climate change, environmental management and finite natural resources serving an expanding world population.
All or any of these reasons mean that urgent action is required to transition to solutions which minimise environmental impact and are sustainable. Failure to deliver such action will have catastrophic consequences for mankind, both economically and physically.
The Opportunity
The opportunity to act to maximise the positive economic benefits as well as minimising the consequences of inaction is here today.
Many say that the transition to a low carbon economy offers the greatest economic opportunities ever known. At the start of the information revolution, few would have guessed at just how widespread and profound the effect would be on society: today we can barely imagine life without modern information technology. Companies like Google, Yahoo! and Amazon are some of the most successful companies in the world.
We are now at the start of the low carbon revolution and those that have started on their low carbon journey already are seeing benefits such as new markets and customers, improved triple bottom line (economic, social and environmental performance) and reduced bills and risks.
In a Low Carbon Economy:
•All waste should be minimised - reduce, reuse, recycle
•Energy should be produced using low carbon energy sources & methods - renewable & alternative energy sources, fuels & sequestration
•All resources (in particular energy) should be used efficiently - more efficient energy conversion devices, combined heat & power
•Wherever practical local needs should be served by local production - food, materials, energy
•There is high awareness and compliance with environmental and social responsibility initiatives - industry, commerce and individuals
