- Given the scale of the greenhouse gas emissions reductions that are seen as necessary to avert the worst effects of climate change, policy action is likely to result in a complete reshaping of the world economy. The consequences are not confined to 'obvious' sectors such as power generation, transport and heavy industry; virtually every company's activities, business models and strategies will need to be completely rethought. In addition, beyond their core business activities, companies have the potential to make important contributions to reducing greenhouse gas emissions through the allocation of capital, through innovation and the development of new technologies, and through their influence on the actions taken by governments on climate change. Corporate Responses to Climate Change has been written at a crucial point in the climate change debate, with the issue now central to economic and energy policy in many countries. The book analyses current business practice and performance on climate change, in the light of the dramatic changes in the regulatory and policy environment over the last five years. More specifically, it examines how climate change-related policy development and implementation have influenced corporate performance, with the objective of using this information to consider how the next stage of climate change policy - regulation, incentives, voluntary initiatives - may be designed and implemented in a manner that delivers the real and substantial reductions in greenhouse gas emissions that will be required in a timely manner, while also addressing the inevitable dilemmas at the heart of climate change policy (e.g. how are concerns such as energy security to be squared with the need for drastic reductions in greenhouse gas emissions? Can economic growth be reconciled with greenhouse gas emissions? Can emissions reductions be delivered in an economically efficient manner?). The book focuses primarily on two areas. First, how have companies actually responded to the emerging regulatory framework and the growing political and broader public interest in climate change? Have companies reduced their greenhouse gas emissions and by how much? Have companies already started to position themselves for the transition to a low-carbon economy? Does corporate self-regulation - unilateral commitments and collective voluntary approaches - represent an appropriate response to the threat presented by climate change? What are the barriers to further action? Second, the book examines what the key drivers for corporate action on climate change have been: regulation, stakeholder pressure, investor pressure. Which policy instruments have been effective, which have not, and why? How have company actions influenced the strength of these pressures? Corporate Responses to Climate Change is a state-of-the-art analysis of corporate action on climate change and will be essential reading for businesses, policy-makers, academics, NGOs, investors and all those interested in how the business sector is and should be dealing with the most serious environmental threat faced by our planet. Contents : Part, I Introduction -- chapter 1 Introduction / Rory Sullivan -- chapter 2 Corporate greenhouse gas emissions management: the state of play* / Rory Sullivan Rachel Crossley Jennifer Kozak -- part, II Public policy: regulation, economic incentives and voluntary programmes -- chapter 3 The effectiveness of climate change policy as an investment driver in the power sector* / William Blyth Rory Sullivan -- chapter 4 The influence of climate change regulation on corporate responses: the case of emissions trading* / Ans Kolk Jonatctn Pinkse -- chapter 5 CDM and its development impact: the role and behaviour of the corporate sector in CDM projects in Indonesia / Takaaki Miyaguchi Rajib Shaw -- chapter 6 Encouraging innovation through government challenge programmes: a case study of PV-based boats / Olga Fadeeva Johannes Brezet Yoram Krozer -- chapter 7 The role of voluntary industry-government partnerships in reducing greenhouse gas emissions: a case study of the USEPA Climate Leaders programme / Jeffrey H. Apigian -- chapter 8 Ten years of the Australian Greenhouse Challenge: real or illusory benefits?* / Rory Sullivan -- chapter 9 The Mexico Greenhouse Gas Program: corporate response to climate change initiatives in a 'non-Annex I' country* / Leticia Ozawa-Meida Taryn Fransen Rosa M. Jime´nez-Ambriz -- part, III Non-state actors and their influence on corporate climate change performance -- chapter 10 The Climate Group: advancing climate change leadership / Jim Walker -- chapter 11 Climate protection partnerships: activities and achievements* / Oliver Salzmann Ulrich Steger Aileen Ionescu-Somers -- chapter 12 The evolution of UK institutional investor interest in climate change* / Rory Sullivan Stephanie Pfeifer -- chapter 13 Reporting on climate change: the case of Lloyds TSB / Andrea B. Coulson -- part, IV Corporate responses and case studies -- chapter 14 Curbing greenhouse gas emissions on a sectoral basis: the Cement Sustainability Initiative / Timo Busch Howard Klee Volker H. Hoffmann -- chapter 15 Novartis: demonstrating leadership through emissions reductions / Helen Mathews Claus-Heinrich Daub -- chapter 16 Climate change solutions at Vancity Credit Union / Ian Gill Amanda Pitre-Hayes -- chapter 17 The Pole Position project: innovating energy-efficient pumps at Grundfos* / Joan Thiesen Arne Remmen -- chapter 18 Responding to climate change: the role of organisational learning processes / Marlen Arnold -- chapter 19 Fasten your seatbelts: European airline responses to climate change turbulence / Christian Engau David C. Sprengel Volker H. Hoffmann -- part, V Closing sections -- chapter 20 From good to best practice on emissions management / Ryan Schuchard Raj Sapru Emma Stewart Rory Sullivan -- chapter 21 Do voluntary approaches have a role to play in the response to climate change? / Rory Sullivan -- chapter 22 Setting a future direction for climate change policy / Rory Sullivan.