Today, more than 150 businesses from across the globe have joined together to advocate bold action to tackle climate change. Led by my Corporate Leaders Group on Climate Change – in itself the result of the past 15 years’ advocacy by my Business and the Environment Programme – these companies have signed a communiqué addressed to the world’s leaders who will meet in Bali next week to discuss climate change.

The signatories represent companies from Europe, the US, China and Australia. Their message is clear. They believe climate change is a reality, that continued economic growth depends on tackling it and that the costs of inaction are too great. They believe that rigorous targets must be set and be based on science and common sense, not on the demands of short-term competitiveness. They also believe that the industrialised countries will have to bear much greater cuts than developing nations and want the certainty of a binding framework so they can invest in new technologies and know that these will be good for business.