ABSTRACT

This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapter of this book. The book presents a co-evolutionary approach evolving policy, markets and engaged civil society simultaneously may yield important practical and theoretical results for creating conditions of innovation to overcome lock-in to high carbon systems of production and consumption. Business leaders need to acknowledge climate change as a core strategic business issue rather than managing it simply as an environmental one. To better understand low carbon business transformation, we need to better understand the governance conditions under which business can make strategic decisions, create innovation, deploy profitable technology and business models and support, or go beyond broader government regulation on climate change. For true low carbon transformation, however, the price signal needs to be complemented by a better understanding of the dynamics of decision making and opportunities at the firm level.