Environment Secretary Hilary Benn has encouraged businesses to recognise the benefits of resource efficiency measures for their bottom line and the environment. Research by WRAP shows that 47% of businesses recognise they could make savings of over £100k through low and no cost efficiency measures - such as turning off equipment when it's not being used - with 17% identifying over £1m of potential savings. Not only that but these measures could contribute as much as 10% to the UK's greenhouse gas emissions reduction targets for 2020 with little or no outlay from businesses.
Benn said: "Businesses are facing challenging times, today more so than ever, so finding ways to save money makes a lot of sense.
"There are opportunities here in the UK too in the low carbon and environmental goods and services, where we currently have just over 3% of the global market. This will grow as consumers become increasingly environmentally aware and companies realise that waste is just a resource in another form. Sustainability is the key not only to the environment but to business success. Now is the time to shape our businesses of the future."
Defra's ‘Saving money - it's your business' campaign illustrates how simple environmental steps can turn into cost savings and provides practical advice for businesses on how to build resource efficiency into everyday working life. The campaign includes a new booklet ‘Can you afford not to?' aimed at encouraging business success in a low carbon economy. The guide provides best practice examples and makes the business case for action including seizing new market opportunities and addressing risks in an economy where resources such as energy, raw materials and water need to be used more effectively.
