Business News Service
Sustainability is the way forward for business, if only we had the time
An overwhelming majority of leading businesses in the South West believe that it is possible to introduce sustainable business practices and remain profitable, according to a survey by Beacon South West.
Rather than concerns about the bottom line, the main obstacle getting in the way of change is lack of time, according to 45 per cent of MDs questioned.
Whilst companies were in agreement that sustainable business practices are feasible financially, the survey that pools the knowledge and expertise of more than 200 of the region’s leading businesses, showed there were many different views when it came to motivation. Fifty three per cent of business leaders were motivated to bring in new policies because of their own social conscience, whereas 13 per cent did it to respond to the needs of customers and only 11 per cent were motivated by a desire to create a competitive edge.
There were also mixed views as to whether the business community in the South West was aware of its responsibility to be sustainable with thirty nine per cent feeling their peers were not.
When asked who would provide the most pressure for businesses in the region to adopt sustainable business practices, 39 per cent felt that the responsibility lay with the Government whilst 36 per cent stated that customers should use their influence to usher in change.
Sue Baker, project director for Beacon South West, commented: “We felt compelled to address sustainability in this survey because it is such a vital issue for the region and so much confusion exists around what sustainability is and whether it is commercially viable. It is therefore encouraging to see that the overwhelming view of Beacon companies is that sustainable business practices can not only work alongside profitability but may even improve it.
“The next step for businesses is to carve out time to explore what practices they can adapt or change in order to make a lasting, positive impact on the success of their business and local communities they work in. Furthermore, Beacon South West is determined to promote the lessons learned by its members so that others can benefit from the experience,” Ms Baker said.
David Bone, managing director of Somar, a Beacon company since December 2004, commented: “Historically, being sustainable was viewed as a marketing cliché and something that many could not be bothered with. But in recent years, we have seen a change of attitude. Being sustainable is not something that is ‘nice to do’, it is something that businesses now ‘have to do’.
“There are two ways for a company to make profits – reduce costs or increase sales. Whilst the latter might be more exciting, there is no doubt that reducing costs, for example bringing down energy costs by working more efficiently, is safer and truly ‘sustainable’.”
Mr Bone continued: “The planet is running out of energy and soon businesses will have to make a stark choice: become more sustainable or face challenging working conditions and cuts which in the long-term might be the undoing of a business. At the moment, the Government is taking the ‘softly-softly’ approach and encouraging sustainability but before long, it will be required to tax businesses in order to force change.
“I welcome the work of Beacon South West in keeping sustainability high on the regional business agenda through its annual conference, ad-hoc events and discussions at Beacon boardrooms on best practice,” said Mr Bone.
Jonet Waldock, head of environment at the South West RDA, said: “We are committed to helping the region’s businesses become more sustainable therefore it is really encouraging that Beacon South West's survey has found the majority of leading companies in the region appreciate that becoming more environmentally sustainable and making bottom-line savings can go hand in hand.
“To help businesses use energy, waste and water more efficiently, we've invested £800,000 in a region wide expansion of the Envision programme, which has already helped more than 600 firms identify savings in excess of £2m and save 20,000 tonnes of waste and 7,000 tonnes of CO2,” Ms Waldock said.
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