UK firms lead the pack with green initiatives

Of the UK firms polled, 54.9 per cent had invested in low carbon equipment

More than 70 per cent of UK firms have already adopted a greener approach to business according to a survey by Siemens Financial Services (SFS).

This includes investing in energy-saving equipment such as greener office facilities, technology and vehicles.

SFS questioned 2,750 firms with 50 employees or more, across the UK, France, Germany, Italy and Spain for the research, entitled Maintaining the Green Momentum.

Additionally 54.9 per cent of respondents have acquired equipment with a reduced carbon footprint, with 61.7 per cent of respondents citing the cost of greener equipment as their chief obstacle to green procurement policies.

A total of 47.3 per cent of firms questioned have set energy-saving targets, and 37.7 per cent have set carbon output targets.

Across Europe investment in energy-saving equipment is consistent across all countries, but the UK has taken the lead with 54.9 per cent investing in low carbon equipment, compared to 35.7 per cent in France and 49.8 per cent in Germany. However, fewer firms in the UK have established energy saving and carbon output targets than in the other countries surveyed.

Derek Ryan sales director at SFS, said: “In general, the report confirms that investing in environmentally-friendly equipment has become a mainstream corporate activity in the UK and indeed across Europe, despite the difficult economic environment, particularly if the ‘green’ technology helps to realise efficiency gains.

“However, our report shows that affordability is a key obstacle that is hindering further investments. If European companies’ green technology investment rates are to grow substantially, availability of financial instruments, such as tax incentives and financing packages, are likely to be critical enablers.”