Embracing green policies 'can save businesses money'
Sep 24 2008
Small and medium-sized businesses can save a substantial amount of money by keeping up to date with the latest environmental regulations, it has been claimed.
Alexander Ehman, head of parliamentary and regulatory affairs at the Institute of Directors, believes many companies are performing well when it comes to adhering to new policies but could achieve more.
'A lot of businesses are doing actually alright on regulations, but the key thing is that they could be doing a lot better. By doing a lot better they could be saving themselves an awful lot of money,' he says.
Ehman adds he believes many firms are unaware of how much they can save by embracing environmentally-friendly practices.
His views are echoed by Richard Martin, programme manager for NetRegs, who claims companies can reduce their outgoings by cutting down on the amount of waste they send to landfills and using less electricity and water.
In its last national survey in 2007, NetRegs found 48 per cent of businesses have introduced practical measures to reduce environmental harm, an increase of 17 per cent on 2005.
The IoD is a non party-political business organisation founded by Royal Charter in 1903, currently with around 55,000 members.
The IoD has always championed the entrepreneur and seeks to provide an environment conducive to business success. For any company to prosper, directors will be continually engaged in making decisions involving innovation, risk and investment. Entrepreneurial activity needs to take place within a solid, strategic framework.
Visit: Institute of Directors
Comment by David Bell
Wednesday 5th November 2008Yes, the major challenge is to keep up to date with all the regulations. Many businesses leave it to our consultants who are fully aware of all the issues associated with meeting ethical business obligations. We help managers make the right purchasing decisions that comply with legislation and avoid expensive penalties. Achieving a social and environmentally friendly climate is of vital important to all stakeholders. We say: 'Your procurement strategy doesn't have to cost the earth!'
Report this comment
Comments [1]