£5,000 savings up for grabs for SMEs that take action on resource management
Green SME news – by Thomas McMullan
26th June 2014
Savings of “at least £5,000 a year” are up for grabs by small businesses that learn how to turn their waste into useful resources, according to a new study by professional body the Institute of Environmental Management and Assessment (IEMA).
The research found that 63 per cent of small and medium-sized enterprises (SMEs) that take action to change the way they handle resource management saved at least £5,000 per year – with nearly 70 per cent of those saving over £10,000 per year. Larger companies could save up to £1 million each year, IEMA said.
“Call to action”
“Call to action”
The report entitled ‘From Waste to Resource’ and published last week, surveyed 940 IEMA members and is described as “a call to action” to businesses around the world to make more intelligent use of materials and engage with a circular economy – where product waste is given productive use.
“All organisations, including SMEs, are vulnerable to resource security risks, such as price volatility and supply limitations,” Josh Fothergill, Policy lead at IEMA and author of the report, said. “However, due to their size, SMEs can often be nimble in exploiting opportunities to create efficiencies and growth through effective resource management actions. Such actions can not only bring cost savings, but also build a competitive advantage and help to demonstrate how they contribute to wider supply chain initiatives led by their clients.”
“All organisations, including SMEs, are vulnerable to resource security risks, such as price volatility and supply limitations,” Josh Fothergill, Policy lead at IEMA and author of the report, said. “However, due to their size, SMEs can often be nimble in exploiting opportunities to create efficiencies and growth through effective resource management actions. Such actions can not only bring cost savings, but also build a competitive advantage and help to demonstrate how they contribute to wider supply chain initiatives led by their clients.”
By recognising the opportunities of energy saving measures and shaking up the way they conceive of production and waste, small businesses could tap into substantial savings and crucially reduce their environmental impact, the report suggests.
“Resource efficiency can be achieved by all organisations, from SMEs to very large businesses,” said Fothergill.
“Resource efficiency can be achieved by all organisations, from SMEs to very large businesses,” said Fothergill.
The report also highlighted the importance of building efforts around an environmental management system as “the primary driver in getting things done on sustainable resource.”
Building sustainable resource management action helps “manage information related to savings, risks and opportunities related to sustainable resource management, ensuring they are acted upon in an efficient manner. This helps to overcome the biggest constraint to SMEs making progress in this area,” a spokesperson for IEMA told GreenWise.
Sustainability professionals: “key role”
Building sustainable resource management action helps “manage information related to savings, risks and opportunities related to sustainable resource management, ensuring they are acted upon in an efficient manner. This helps to overcome the biggest constraint to SMEs making progress in this area,” a spokesperson for IEMA told GreenWise.
Sustainability professionals: “key role”
IEMA’s research also shows skilled environment and sustainability professionals are vital to delivering these benefits for business.
“Environment and sustainability professionals have a key role to play in delivering this new approach for business by acting as the vital conduit within business to drive change, work with procurement departments and mainstream the skills and awareness necessary to drive forward these significant resource management costs savings,” Fothergill said.
Wiles Greenworld, an office-supplies company based in London, is a small business that has found success through environmental management. The company offers free recycling and shredding to its customers as well as environmental consultancy.
“By also collecting recycling from our customers, when delivering orders, we have created opportunities to re-engineer the value-chain to better support closed-loops; this helps to differentiate our business in a competitive market,” said Toby Robins, sustainable development director of Wiles Greenworld.
Larger businesses
“Environment and sustainability professionals have a key role to play in delivering this new approach for business by acting as the vital conduit within business to drive change, work with procurement departments and mainstream the skills and awareness necessary to drive forward these significant resource management costs savings,” Fothergill said.
Wiles Greenworld, an office-supplies company based in London, is a small business that has found success through environmental management. The company offers free recycling and shredding to its customers as well as environmental consultancy.
“By also collecting recycling from our customers, when delivering orders, we have created opportunities to re-engineer the value-chain to better support closed-loops; this helps to differentiate our business in a competitive market,” said Toby Robins, sustainable development director of Wiles Greenworld.
Larger businesses
The report also pointed out the benefits of adopting a circular economy model by larger businesses. 20 per cent of large companies saved £100,000 each year, while 19 per cent of very large companies claimed that their company saved over £1 million each year.
“A ‘circular economy’ requires all organisations, large and small, to engage in the transition from waste management to resource management,” said Fothergill.
“The actions taken by business as a result of following IEMA’s practical advice and tools will enable businesses to save money and reduce their impact on the environment.”
“A ‘circular economy’ requires all organisations, large and small, to engage in the transition from waste management to resource management,” said Fothergill.
“The actions taken by business as a result of following IEMA’s practical advice and tools will enable businesses to save money and reduce their impact on the environment.”
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