Well-designed environmental regulations far outweigh the costs associated with compliance and actually promote business growth.
That is according to the findings of a new study launched in UK parliament by the sustainability leadership alliance, Aldersgate Group.
Help or Hindrance? Environmental regulations and competitiveness looks at the impacts of “ambitious environmental standards on business competitiveness” within a variety of industries, concluding that such regulations create an array of economic benefits, including greater investment in skills and innovation, better quality products and services, and increased job creation.
Compliance costs ‘more than offset’ by the economic benefits triggered
Significantly, the report -- which is based on business interviews on the impacts of key environmental regulations -- also concludes that the compliance cost attached to each regulation has been “more than offset” by the economic benefits they have triggered.
In underlining this positive business and economic case for better environmental legislation, the study arrives at an important time, just as the government has announced its Clean Growth Strategy and Industrial Strategy, both of which promise to drive growth of the UK’s low-carbon industries through new investment and law-making.
Commenting on the report, Aldersgate Group executive director Nick Molho, said: “The Government recognised in the Industrial Strategy White Paper that regulations shouldn’t just be seen as red tape; on the contrary, they can also act as an important tool to support business innovation and competitiveness."
You can read the full Help or Hindrance? Environmental regulations and competitiveness report here.
The SMS view
Every year, a growing number of British organisations come to us for help with implementing environmental measures – not because they have to, but because they want to.
Though we are experts in assisting businesses with environmental legislation compliance, we believe it is the very minimum any modern, forward-thinking organisation can do.
Indeed, energy-saving measures are today increasingly seen not as an obligation, but a major strategic investment good for both the environment and overall profitability and competitiveness, as the new Aldersgate Group report illustrates.
For progressive, environmentally-conscious organisations such as these, we provide practical guidance and support to rationalise energy usage and maximise efficiency.
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