UK firms lose £7m a day due to poor energy efficiency
Energy efficiency is now an important cost-cutting priority for construction and building businesses looking to combat the impact of a potential economic slowdown, according to new research released today by the Carbon Trust.
Poor energy practices cost UK firms almost £7 million a day, according to the Trust.
Of business leaders in the construction and building sector surveyed by the Carbon Trust, more said that reducing carbon emissions had risen up their agenda in the last six months than those who said it had fallen down their agenda (25 per cent vs 15 per cent).
Most now put encouraging employees to be more energy efficient ahead of recruitment freezes, changing suppliers, freezing salaries or giving below inflation pay rises as a potential cost-saving measure. Only redundancies and passing greater costs on to customers ranked higher.
New statistical analysis by the Carbon Trust also highlights the scale and urgency of the issue, with estimates showing that UK businesses could collectively save nearly £2.5 billion during the next 12 months, simply by implementing cost-effective energy efficiency measures. And the savings are not just the preserve of large energy-intensive companies: the potential savings for SMEs alone are around £1.3 billion, it says.
This is equivalent to:
* 13 per cent of UK companies’ energy bills
* The combined annual salaries of more than 100,000 employees on an average wage
With over two-thirds (77%) of company bosses surveyed in the construction and building sector either actively cutting costs or considering doing so, the Carbon Trust is urging them to get in touch to seek help in reducing their energy bills and their carbon emissions.
Large companies in particular appear to be ready to take action, with a third (33 per cent) of bosses of companies with more than 250 employees claiming carbon reduction has gone up their agenda in the last six months.
Visit the Carbon Trust website here.