Businesses urged to 'embrace' renewables

Date: 30th July 2010

Companies should take steps to embrace renewable sources of energy as fuel prices rise, BusinessGreen.com has said.

Andrew Charlesworth, a journalist at the multimedia publication which provides guidance for firms wishing to boost their environmental credentials, explained that 'going green' makes good business sense.

He added that most people in the industry agree that energy prices are going to rise and that organisations are leaving themselves open to fluctuations in the cost of oil.

"If you assume that the oil prices can go up [and] it goes up to $100 a barrel, then using renewable resources actually saves businesses money. If it goes up even further, you save more money," Mr Charlesworth explained.

"Green is economically efficient. If you put money into things like energy conservation, insulation, you can get returns of 15 per cent on your investment."

Earlier this week, a report from the Department of Energy and Climate Change suggested that although the transition to a low-carbon economy would not be cost-free, it would offer several opportunities for economic growth.

Posted by Emma Clarke