Contracts to the tune of £150bn could be made available as major companies and public sector bodies seek to green up their supply chains, a report has found.
The research by environmental UK forum base (business and a sustainable environment) has quantified the business opportunity in sustainability as around £150bn a year, as large organisations impose eco-friendly requirements on their suppliers.
The report echoes the sentiments delivered by PM Gordon Brown, who underlined yesterday the economic benefits of a low carbon economy and the opportunities that the new market in sustainability could offer UK firms.
Tom Burke, the chairman of base and an expert on green issues, commented that business has a bigger role to play in the fight against climate change.
“However, because there has been little coherence in the approaches adopted by different public authorities to sustainability, the business environment has been subject to diverse and sometimes conflicting policy currents on these issues until now,” he added.
“The most successful companies in the 21st century will be those that learn to manage the new risks and opportunities posed by climate change as well as they currently manage their operational, market and financial risks.
“If we are to respond to the challenges of climate change, it is imperative that the government’s speeches are backed by real activity from all parts of the supply chain.”
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