Increasing Energy Prices Prioritise Efficiency for Businesses

HIGHER fuel costs are pushing energy efficiency up the agenda for British businesses but fear that action will be too expensive in the short term according to a new survey.

Energy advisors energyrethinking today released the results of the survey they commissioned in association with the Institute of Directors (IoD).

Over 1000 business executives were surveyed, with 66 percent admitting that the ever increasing cost of energy is the biggest incentive for them to cut their energy use, but they also felt that there were some major hurdles to implementing energy efficiency measures in their facilities.

40 percent stated ‘large upfront investment’ as a prime deterrent to energy efficiency action, with a lack of available funding being cited as an added barrier.

Chris Dodson, Chairman of IoD South, stated: “The results show that this is really becoming a hot topic for businesses today.

“It is really encouraging to see so many people willing to change their habits in order to become more energy efficient. We need to harness this enthusiasm to help businesses commit to greener practices.

“However, the cost barriers at the moment deter people and this is a real problem facing the future of energy use.”

Despite this view, Andy Wood, CEO of Adnams Brewery, said his company has never looked back after creating a Social and Environmental Impact Policy: “It was a challenge to plan and implement our energy efficiency measures, but it was worthwhile and the benefits have been incredible. Not only have we cut costs, we’ve also been able to harness new technologies.”

The survey highlights that energy efficiency brings benefits to the environment; employers, employees and customers alike.

The survey also reported that 39 percent felt one of the strongest motivators for energy efficiency implementation is corporate social responsibility. Hence, energy efficiency also becomes an imperative for businesses as there are increasing numbers of environmentally conscious customers and job-seekers.

Image from iStock.

Wednesday 2nd March 2011


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