People all over the world want energy, personal transportation and economic development, but at the same time many of them are concerned about the environmental consequences. Accepting the work of the Inter-Governmental Panel on Climate Change (IPCC) as a sound starting point, it is suggested that it will be technologically possible to arrive at a climate change scenario at the lower end of the IPCC forecast range of outcomes. While the climatic effects of such an outcome would have significant impact, it should be possible to take mitigating steps. But to ensure that technologies and consumption patterns do in fact evolve along the lines suggested a combination of regulatory frameworks will be needed within which the market can operate to deliver significant improvements in the impact of transportation and power generation.