Cutting the world's emissions of greenhouse gases would involve a shift away from the fossil fuels that powered the industrial revolution and provided cheap energy for more than a century. As this implies massive disruption at a potentially huge cost, businesses must be at the forefront of any attempt to curb the gases.

But while some business lobbies have resisted international action on climate change for precisely these reasons, a growing number of high-profile companies are calling for stiffer regulation of carbon dioxide.