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ADAPTING YOUR BUSINESS WILL NOT COST THE EARTH058FINANCETIM FORD, CHAIRMAN, AND DAVID BEER, ASSOCIATE, ESOLVE PARTNERS LLPhe G8 Summit will be the first time Headsof State have met since COP15 inCopenhagen. The summit will be animportant event to keep the momentumto drive the global climate change agenda. There aremajor challenges to overcome both in terms ofachieving significant reductions in consumption as wellas selecting the best solutions from an ever increasingnumber of competing technologies. As December'sCOP16 in Mexico comes ever closer, the G8 will play apivotal role if it is to ensure success. The continuing development of the global economydepends upon embracing low-carbon initiatives and itis imperative the G8 members are at the forefront ofthis transition. Businesses have a key role to play. At atime when we are all trying to work our way out of theeconomic downturn, companies both large and small,must view the adoption of green initiatives as a fastand effective way to reduce costs and be more agileand competitive. The common misconception is that there is a high costto make these changes. This is not true. If you take theobvious environmental and publicity benefits out of theequation, the adoption of these initiatives still makesgreat business sense. A common challenge in the low-carbon economy is theability to create the right platform for start-ups andsmall businesses with innovative technology. Withmany banks still unwilling to provide finance, theseorganisations have to source private funding. The emergence of multiple competitive technologies inthe fields of waste-to-energy, biomass, solar, wind,wave and tidal power can be confusing and conflicting,whereas a cohesive approach delivering "best of breedoptions" may be more attractive and asmarter way to get to market. Far toooften, universities, project developers,inventors and scientists are vying forfunding from a limited investmentpool. The sheer volume of investmentproposals makes the selectionprocess much more difficult andcreates higher risk for the potentialinvestor, slowing the developmentprocess. Are we in danger ofconstantly developing potentialideas rather than deliveringactual results?Another major issue thatoften does not get the atten-tion it requires is the impor-tance of reducingconsumption. Thenumber of comp-etitive power gene-ration technologiescropping up across theglobe is increasing almostdaily, and whilst they generate anenormous amount of publicity, very little attention is paid to the infrastructure delivering power to the end user. The delivery grid systems in many countries simply donot have the scalability to manage increasing demand.The worldwide growth of renewable energy projects hassignificantly increased the need for utilities to captureand store electricity for later use. This is driven by several trends, including theproliferation of intermittent renewable energy sourcesT?

FINANCE059