Are we sure that climate change exists? I am sorry, but that is not a question for us. The best question for the business community is whether we can be certain that climate change presents a substantial risk; a risk that will have a profound impact on society and the economy? To this the answer is clearly 'yes'. And so, as with all substantial risks, it is vital to mitigate the danger.

This report contains the independent conclusions and responses of some of the leading companies headquartered in the UK and represented by their CEO or Chairman. It makes far-reaching commitments and recommendations after a journey of intensive discussions and study. Not easy, not always unanimous, but ultimately underwritten by all. We submit this to the CBI, and to the wider public in the belief that it can be a catalyst for change.

Any response to the threat of climate change requires three components for success. Politicians must give much greater priority to the subject, and not just on an ad hoc basis. Consumers have to be empowered to make the right decisions and need to be given the facts to make informed judgements. And business must become green to grow.

Of course climate change is a global challenge. But in the UK we should not wait for others. The issue at hand is serious and requires an immediate response. Action taken sooner is both better and cheaper. And it is clear that alongside the challenge lies an opportunity. One we can harvest by acting now and in concert to build a low carbon economy.