Climate change is recognised as one of the major threats to the security and prosperity of the world in the twenty-first century.  Unchecked climate change undermines the conditions for economic growth.  It will lead to food and water shortages. Conflict will break out as people dispute scarce resources.  This is both morally and economically unacceptable.

It is therefore a serious challenge for the international community, but it is not a challenge that can be left to scientists, or even to governments alone to overcome.   We all need to work together to strike the best balance between the need to create economic prosperity and the need to preserve our environment for future generations.  Increasingly the global business community is recognizing the importance of its role in meeting that challenge. International business leaders, together with governments and climate change experts, drew up a comprehensive set of recommendations on climate change policy at the World Economic Forum in January 2008.  These recommendations highlighted that the cost of inaction on this issue would be disastrous, and that the only reasonable approach for all governments and business leaders is to take action now.

The business community is also recognizing that climate change is not only a challenge, it is an opportunity. Global economic shocks and energy security issues have led governments and businesses to think in new ways about how to use their resources, grasping the opportunity to invest in new “green” technologies and practices.  Reducing dependence on oil and creating a low carbon economy will mean that we will all be less vulnerable to fossil fuel price shocks, and have greater energy security.  It will mean that businesses and households save money through energy efficiency.  And the growth of the low carbon economy will be a source of employment and innovation.

British Prime Minister Gordon Brown has said: “a low carbon economy will not emerge from thinking of business as usual”.  “Business as usual” is unchecked climate change, threatening the prosperity and security of citizens and businesses throughout the world.  LEAD Pakistan has recognised that Pakistan needs the innovation, ingenuity, drive and strategic risk-taking of its business community to break away from “business as usual”. This is the start of a long journey, and we need to progress along it quickly.  I hope the LEAD Corporate Summit on Climate Change can be used as a starting point on that journey, enabling Pakistani businesses to get involved in the climate change debate, to develop a shared understanding of what needs to be done and to move forward together.  I wish LEAD Pakistan, and all those taking part, every success for a productive and rewarding meeting.