Climate change : the risks we can't afford to take. Part 3: The risk of uncertain markets

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We have asked five leading commentators to set out exactly how they see the risks that we face and why in their view they are risks we can’t afford to take.

In the third in our series of five reports on the risks to the implementation of the targets in the Climate Change Act, Steve Holliday, chief executive of National Grid, sets out his perspective on why the risk of adding to the current market uncertainty is a risk we can’t afford to take.

Climate change presents us with an enormous challenge and an enormous opportunity. The opportunity is to renew our energy infrastructure, create jobs in the low-carbon economy and secure our future energy supplies. Whether this happens depends on a number of factors and with the economy as it is, businesses need more certainty that their investments will be made in the right technologies, in the right timeframes and with the right support from government.