Green technology could save Midlands businesses £272m

GREEN initiatives could save businesses in the West Midlands £272 million a year, a recognised industry body has said.

The British Standards Institute (BSI) says the successful companies of the future will be the ones that learn how to create sustainable business models and implement effective management systems.

The organisation says businesses need to learn more about new standards such as the highly topical standard for energy management, BS EN 16001 as well as more-recognised ones such as ISO 9001 for quality and ISO 14001 for environmental management.

“Successful businesses will be those that balance good environmental and social housekeeping so they can protect their reputation, mitigate the risks, improve profitability and produce better returns on investment,” said Andrew Morris, business development director at the BSI.

“Management system standards are an ideal way for organisations to do this since they offer a framework that can be tested and checked by independent auditors to ensure that the business is actually managing these issues effectively.”

“We have seen action from sustainable development already leading to tangible gains including health and employment benefits and efficiency savings.

“The Government is also increasingly adopting regulatory measures that businesses must comply to.”

The organisation’s comments comes as Advantage West Midlands (AWM) urges engineering and manufacturing businesses in Birmingham to get involved in low carbon inititatives.

AWM says that contracts for the UK’s nuclear, renewable energy, green automotive and low-carbon construction markets are potentially worth over £8 trillion over the next 15 years.