Tuesday 19 May 2020
Manufacturers who put sustainability at the heart of their businesses ‘are seeing real benefits’
Manufacturers who put sustainability at the heart of their businesses have seen real benefits from doing so in the last year.
That's the suggestion from Make UK and E.ON, which have said prior to the coronavirus lockdown, 40% of these businesses reported increased profit margins and 30% saw increased competitiveness as a result.
In a new report, the two organisations emphasise that sustainability and profitability go hand-in-hand and stressed as the industry looks to rebuild after the lockdown, there is an opportunity for manufacturers to refocus on sustainability targets and work with the government to ensure a green recovery can be delivered.
They say 90% of manufacturers are aware of the 2050 net-zero target while almost half see it as a significant business opportunity - before the coronavirus pandemic, 30% said they have made "real inroads into energy efficiency investments" in the last 12 months, with the majority of the changes in relation to building improvement, equipment and manufacturing processes.
Improving building energy efficiency was the second most impactful of technical measure for 11% of companies -other relatively affordable and easy steps included buying energy from renewable sources, switching to LED lighting and replacing outdated equipment and appliances.
Stephen Phipson, CEO Make UK, the manufacturers’ organisation, said: “These results show that manufacturers are committed to playing their part in the transition to a net zero carbon economy. As businesses recover and learn from the Covid-19 crisis, they have the opportunity to ensure improved sustainability is factored into their resilience plans.
“As well as taking steps to reduce energy use and carbon dioxide emissions, they are developing the innovative new products and services we all need to decarbonise. With the right policy and regulatory environment, manufacturers could move even more quickly to unlock the benefits of green growth, and we look forward to working in partnership with government, regulators and the energy industry to make that happen as part of the future new norm."
