It makes good business sense to cut emissions.

That type of thinking is fast becoming a thing of the past. Next week, Sir Nicholas Stern, a former World Bank economist, is due to publish a Governmentcommissioned report on the economic costs of climate change. One of his themes will be that global warming must in future be a key part not just of the political agenda but the business one too. Any chief executive who thinks otherwise had better watch out. Failure to address these issues could leave them at an extreme competitive disadvantage as the crackdown on the carbon economy gathers pace.

independent