Is it too early to wonder what the effect the recent turmoil in the credit markets will bring to the climate and environment agenda. With mortgages about to rise, inflation tipping the scales and investment capital about to dry up industrialists, investors and entrepreneurs may once again be counting the paper clips used in their offices and scrutinising every cent of the office boy's expenses claim. We may all, very soon feel poorer. After all irrespective of the German Engineering the Director drives - it is always the fault of the half cent items.

But is this such a bad thing for the environment? Long ago in the days of our parent's, and our parent's parents time nothing was taken for granted. They were careful. In the great depression of the 1920's the USA as in the poorer third world countries more recently, everything was recycled by necessity: is the squats it still is. What truth history tells us about ourselves; we have had to recycle our rubbish into different sacks by order of those on high-and-mighty and those doubting Thomas's have objected and cried foul.

In irony and poverty we may soon be treading the way of the Calcutta squats where recycling is a way of life's necessity and everything has a value. Plastic packaging may be the first but certainly not the last to go; already cardboard boxes are reappearing in supermarkets. Will we see business re-using too?

Perhaps this is over-dramatic but you get the drift; never are humans so efficient as when they are forced to be.

What do I think will be the effect on the human populations?
Do I really expect the denizens of Hampton to start rifling their neighbours blue bins? No, not really, but items will no doubt become less throwaway all on their own. Televisions will have a life span beyond what is the most popular and live until they break.

The legislative changes to counter climate change in Europe have already been passed; this is good for those who work in the business because the compliance architecture will still have to be attained to maintain the politicians faces.

In the USA businesses hoping for a switch from carbon to solar and wind may well be stepping into problems if they have not already had their investment guaranteed.

What will be the effect on business in the climate change sectors? Business will have to become more efficient analogous to the boy in the Calcutta squat they will have to recycle, money for investment in future technologies will dry up and business will necessarily slow. The Climate change agenda will not halt - our politicians are now entrenched with change that spin-doctors will have a hard job to pull back from - but it will now not proceed at the pace it should.

Our planet was threatened with global warming and business wetted its appetite for change courting investment. In the last few days we have seen a cool wind of change; frightening for those in business: the bankers literally blowing away the chances of those businesses. But it is the final addition of the both of them that may in the end produce the chill factor that focuses attention, stimulates true efficiency and brings climate change back to the top of the agenda. A lot depends a lot on America and whether the chill will freeze solid and for how long.

In the meantime I am off to count paperclips...