Tuesday, September 1, 2009

Going Green Could Save Businesses Billions

By Philip Youngwood

Businesses could make massive savings on their energy consumption by introducing some simple energy saving measures, a new report has found. The joint report by the Environment Agency and the Energy Saving Trust (EST) advises that businesses could save up to 3.5 billion pounds per year.

Speaking to This Is Money, Ruth Spellman, Chief Executive of the Chartered Institute of Management, agreed. She said 'climate change cynics need to recognise the business case for going green.

'A typical employer is likely to use excessive amounts of paper, ink and electricity. If so, a few simple changes, such as printing double-sided or turning off computers at the end of each day could save money.'

A business's green credentials could be boosted through innovative uses of new technologies, which can also help to cut expenditure. Trying video, web or teleconferencing instead of travelling long distances to meetings would save money, time and CO2 emissions.

Progress should be monitored on a month by month basis so that firms can track exactly where improvements have been made and where further effort needs to be placed.

Business is currently the biggest contributor of carbon waste in the UK, according to figures released by DEFRA (Department for Environmental, Food and Rural Affairs). Total emissions total 191 million tons of carbon in 2007, equivalent to 35% of the UK's total emissions.

The effect of environmentally friendly policies could be more far reaching than simply reduced bills and emissions. Recruitment researchers have found a link between levels of employee engagement and corporate sustainability policies, as green energy issues become increasingly important to younger employees.

Many recruitment websites now have a dedicated section of their website for companies with environmentally friendly policies and practices, highlighting the prevalence of CSR issues in the minds of employees.

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