Green businesses will ultimately profit, says government

11/02/2008

Profitability and sustainability are intrinsically linked in the low carbon economy, energy minister Malcolm Wicks has claimed.

Wicks made the comments when announcing the Department for Business, Enterprise and Regulatory Reform (DBERR) had signed up to a major new sustainability initiative called base – business and sustainable environment.

Wicks said the business opportunity in sustainability amounted to £150bn per year.

“A profitable business must be a sustainable business to succeed as we move towards a low carbon economy,” said Wicks.

“We now have the opportunity to play a leading role in taking the world towards this low carbon future and it is an opportunity I want this country to seize.

“A greener Britain and a new green economy which protects the environment while providing high quality jobs, better quality of life and prosperity for all.”

Tom Burke, the chairman of base, said it was becoming clear that business had a bigger role to play in tackling climate change than seen so far.

“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.”