There is a clear case for driving a global economic transition that is stable and sustainable. The need to develop a low-carbon economy and tackle climate change cuts across business in all sectors around the world. Taking the necessary action will have profound effects on industry and the global workforce. To provide energy for the future it is vital that, as we rebuild the global economy, we seek to diversify energy supplies to reduce our dependence on high-carbon sources. And to set the world on the path to a low-carbon future we must seize this opportunity to make the long-term investments – economic, scientific and technological – that are required and generate green jobs as a means towards green growth.

Such measures will include investment in energy efficiency and research and development in new technologies, a shift towards renewable energy, and the commercialisation of low-carbon vehicles. The more these low-carbon measures can be pursued by countries acting together, the more investment will be able to be brought forward, with environmental industries forecast to grow by around 50% over the next decade. The Prime Minister has called for a Low-Carbon Prosperity Task Force to report in time for the London Summit, with practical recommendations for a low-carbon recovery.

The automotive sector will be critical to meeting this environmental imperative and economic opportunity, including through the commercialisation of low-carbon vehicles.