BDO Yorkshire Report 2014: Building a sustainable future

THE last 12 months have seen sustainability remain firmly on the boardroom agenda of many Yorkshire companies, with businesses across all sectors focusing their efforts on ‘future proofing’ themselves, according to the BDO Yorkshire Report 2014.

Increasingly sophisticated dialogue between business buyers has led to the creation of new markets and demand for new products across the world and presents “huge opportunities” for Yorkshire plc, the report highlights.

To read the full report, click here.  

The cleantech and renewable energy sector has matured too. Typically centred around hubs of innovation such as the Leeds City Region and drawing in established technology giants from across existing industries, the sector is working hard to provide ideas, technologies and products to satisfy the demands of corporate hunger.

Simon Pringle, head of sustainability and cleantech at BDO in Yorkshire, said: “Changing market demands and increased regulation is creating a transition towards lower carbon, resource efficient goods and services.  This naturally creates challenges but the opportunities for businesses to create short term efficiencies, while delivering shareholder value in the long term, are huge.” 

As Yorkshire companies respond to the regulatory and commercial pressures, many discover that by examining their energy use more carefully, they were able to realise valuable financial benefits – from lower energy costs to meeting the demands of more transparent information.

Pringle added: “The clearest example of the need for transparency and its impact on competitive positioning came from the horsemeat scandal, which put supply chain integrity at the centre of risk management strategies for food and drink companies. But the issue goes far beyond this sector; in the construction, manufacturing and retail sectors for example, there is evidence of sustainability criteria being increasingly influential in tender screening and procurement decisions.

“Sustainability strategies should be led by a combination of core business objectives and stakeholder priorities.  Getting it right can not only help businesses effectively manage risk and inspire consumer and investor confidence, but it can also deliver significant commercial advantage to businesses across the region.”