LOW CARBON REGULATION AND ENTERPRENEUSHIP

Low Carbon Regulation

Table of Contents

Executive Summary3

Low Carbon Regulation and Entrepreneurship4

Introduction4

Prospects of Clean Energy Consultancy4

Estimates for the Project6

Long Term Policy8

Action in the UK13

Conclusion15

References17

Executive Summary

Tackling climate change and the over-exploitation of our planet's resources will have a huge impact on our economies, societies and the way we live our lives. Change is inevitable. Where we do have a choice is whether we wait until these changes are forced upon us or we act now to lessen their impact, to prepare ourselves for those already under way and to take advantage of the new opportunities opening up.

The Low Carbon Vehicles Innovation Platform was launched by the Technology Strategy Board in 2007 to accelerate the market introduction of low carbon road vehicles. The aim is both to maximise the benefit to UK business and to respond to the challenges of reducing transport CO2 emissions.

Low Carbon Regulation and Entrepreneurship

Introduction

The Stern report highlighted dramatically the economic cost of delay. It found that failure to act now would cost between 5 and 20% of the world's GDP as we experienced the catastrophic impact of climate change. In contrast, the price of early action, although high, would be in the region of 1% of global GDP. And the earlier we take action, the less expensive the task will be.

Prospects of Clean Energy Consultancy

That is why the Clean Energy Consultancy is committed to building a low carbon economy - in Britain and globally.

A low carbon economy is not a slogan. It will entail, over the next few decades, the transformation of our lives and of our economy - as the Prime Minister has put it, a 'technological revolution' in the way we use and source our energy. And in turn - because energy use pervades every aspect of our lives - this will imply a social transformation, in the way we live.

Building a low carbon economy and society will be a huge challenge. To achieve it we need to unlock the talents of the British people and of our businesses. Only by releasing the skills, creativity, entrepreneurialism and capacity to innovate our firms, our workforce and our communities will we find the economic and social solutions to the task in front of us.

But if we do this, the benefits to Britain and to our economy will be immense.

Stern highlighted the prize for those countries capable of successfully leading the world into a low carbon future. Greater energy efficiency improves economic productivity. The demand for environmental goods and services creates new jobs and new business opportunities. The development of new green technologies will create export markets throughout the world. Such technologies indeed offer the prospect of providing new drivers for economic growth in the 21st century as previous technologies did in the last. And the nations that seize this opportunity - which can show the rest of the world how a modern economy can grow sustainably - will reap the largest rewards.

The market for environmental goods and services is already large and growing by the ...