Business forum reveals hidden green opportunity of GBP 150 billion in UK supply-chain
The business opportunity in sustainability amounts to around GBP 150 billion per year, according to Base (Business and A Sustainable Environment), an environmental UK forum for business. Speaking yesterday, Gordon Brown MP underlined the economic benefits that the new market in sustainability could offer UK plc.
The research published by base demonstrates for the first time the extent of environmental requirements being applied by major companies and public sector bodies to their supply-chains in the face of concern about climate change. This means that up to GBP 150 billion-worth of contracts annually could be available to the businesses which are informed about and act on these requirements.
Base, which is backed by large businesses, government departments and third sector organisations, has been set up specifically to provide practical information to commercial organisations about how to understand and capitalise on the green profit opportunity. It will bring together large organisations with environmental programmes and obligations, and potential suppliers. Tom Burke, the chairman of base, said “It is becoming increasingly clear that business is going to have to play a bigger role than it has so far if we are to succeed in tackling 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.
“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.”
The research published by base today also indicates that information overload on climate change may be preventing the full value of the green opportunity from being realised. The real need is for large organisations to communicate their requirements to all potential suppliers.
Marcus Rand, Head of PR and Corporate Communications, the Carbon Trust commented, “It is essential that businesses take the lead on cutting carbon. We know from working with thousands of businesses that early action on cutting business carbon footprints brings not only cost savings but also longer-term competitive and reputational advantages. We are delighted to be supporting base in its plans to engage with businesses over the coming twelve months and would encourage as many businesses as possible to become involved.”
