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What is a Low Carbon Economy?

There is an urgent need to transition to a low carbon economy to address the global challenges of diminishing fossil fuel reserves, climate change, environmental management and finite natural resources serving an expanding world population.

All or any of these reasons mean that urgent action is required to transition to solutions which minimise environmental impact and are sustainable. Failure to deliver such action will physically change the world we live in and have serious economic consequences.

The Opportunity

The transition to a Low Carbon Economy represents one of the greatest challenges we have ever faced, but it also offer one of the greatest business opportunities. The following are examples of areas where opportunities exist:

Energy Efficiency
With diminishing fossil fuel reserves it is important that we use our existing energy resources efficiently.
This creates opportunities for:

- Energy efficient lighting, voltage optimisation, energy management, low power electronic equipment, insulation.

Resource Efficiency
Energy underpins everything we do, so any wastage has both a resource and energy cost.
This creates opportunities for:

- Recyclable materials, less energy intensive manufacturing methods, reducing packaging, sustainable agriculture, low carbon materials.

Renewable & Sustainable Energy
Energy harnessed from nature is more sustainable and has a lower carbon footprint than traditional fossil fuel sources.
This creates opportunities for:

- Wind energy, solar power, fuel cells, biofuels, wave power, hydro power, geothermal energy.

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In a Low Carbon Economy

  • All waste should be minimised – reduce, reuse, recycle
  • Energy should be produced using low carbon energy sources and methods – renewable and alternative energy sources, fuels and sequestration
  • All resources (in particular energy) should be used efficiently – more efficient energy conversion devices, combined heat and power
  • Wherever practical local needs should be served by local production – food, materials, energy
  • There is high awareness and compliance with environmental and social responsibility initiatives – industry, commerce and individuals

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