It is a question of finding the right balance. If governments fail in this, they will find that economic decline is the enemy of the environment. What happens next will decide whether Kyoto is an empty promise or an initial step in addressing the long-term challenges of climate change. It would be counter-productive to strangle business enterprise by imposing rigid regulations in the mistaken belief that this would be the best way to get results. Having established a framework for action, governments must leave business free to introduce the process, product and technological changes that will make reality out of the targets and timetables.
Business is central to the solution.
Tried and tested new technologies are already producing spectacular energy savings in manufacturing, transport, domestic and commercial heating, agriculture and other industries. More technologies are coming on stream and performance is improving all the time. Business must be given support to develop environmentally friendly and energy efficient technologies. The best hope for involving developing countries in measures to mitigate climate change is to make investment and technologies available to them. Developing countries' ability to replace outdated industrial infrastructures will be crucial to achieving meaningful global results.