without thinking of anything else. And, like small and medium enterprises, they want equal treatment: they do not want to be disadvantaged by a sterner regime than their competitors face. They demand a global emissions reduction regime, monitored and enforced locally.

The corporate responsibility message is now widely accepted by most leading companies, not only because they know they may be punished by their customers if they do not appear to be trying hard to be green but also because it is profi table. A green business outlook is more than simply

For most corporate decision makers, the central question narrows to whether their decisions optimize share value. The evidence suggests that higher levels of corporate social responsibility are associated with higher share values. A report released in July 2007 by Goldman Sachs, one of the world’s leading investment banks, showed that in the six sectors covered – energy, mining, steel, food, beverages, and media – companies that are considered leaders in implementing environmental, social and governance policies created have sustained competitive advantage and outperformed the general stock market by 25 per cent since August 2005. Moreover 72 per cent of these companies outperformed their peers in the same industries over the same period.

cosmetic. A bank, for example, may be a model enterprise in terms of its procurement, premises and travel policies. But its lending policy may involve it in supporting customers who could make massive improvements in protecting the atmosphere. What is needed to persuade them to do so is
a nudge and who better than a bank to deliver it?

For inter-governmental organizations there can be a temptation to think you are so important that you are above the law – even the physical law which says CO2 levels are approaching danger level. Their close interchanges across the globe imply a lot of travelling – sometimes not necessarily linked to the result of the mission.

CITIES

Cities are themselves sources of global warming: they are “heat islands”, significantly warmer than the surrounding countryside. The main reason for this is the way the land surface is modifi ed by urban development; waste heat from energy use is a secondary cause.

50 KICK THE HABIT THE ACTORS
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