Sir Reg reveals importance of ‘green’ profits

Enterprise Minister Sir Reg Empey has stressed the need for greater recognition of the link between environmental awareness and increased profits.

Addressing an audience of senior figures from industry and local councils, the Minister used the launch of Arena Network's 4th Northern Ireland Environmental Management Survey as the forum for highlighting the possible savings of such increased scrutiny.

Speaking at Belfast City Hall, Sir Reg explained: "The total cost to UK industry through waste of resources is £15 billion per year. However, it has been demonstrated that on average business can save 1 per cent of turnover through waste minimisation at little or no cost.

"The indisputable link between environmental performance and profitability reinforces the message that sound environmental management is no longer an option for just the few, but a must for all companies seeking to be the best performers and consequently the most profitable. Those businesses failing to move towards sustainable practices will increasingly feel the impact."

The environmental survey, which was sponsored by the Industrial Research and Technology Unit (IRTU), Belfast City Council and NIE, included questions on the environmental reporting and performance of companies in relation to CO2 emissions, energy use, transport, waste and water use. The survey provides percentage ratings on companies’ and local authorities’ environmental performance.

The Minister went on to challenge business to play their part with Government to develop a truly sustainable economy and revealed that IRTU has assisted some 160 business locations in achieving international accreditation to ISO 14001 for their environmental management system. (CL)