If you've no account register here first time
User Name :
User Email :
Password :

Login Now
Circular model chart

Resource Management’s $1M Savings Potential

Circular model chartSustainable resource management has the potential to generate savings of over $1 million annually for some UK businesses, according to a report by the Institute of Environmental Management and Assessment.

The report is part of a larger call to action for businesses by the IEMA, which notes that price volatility, supply shortages, disruption of supply chains, and reputational risks are turning sustainable resource management into a critical issue for business.

According to IEMA’s Josh Fothergill, small and medium-size businesses with skilled environment and sustainability professionals on staff are currently saving £5,000 a year ($8,500), and the largest companies can save over £1 million a year ($1.7 million).

The IEMA also points to research from the UK Department for Environment Food and Rural Affairs that indicates that more than 80 percent of £23 billion ($39 billion) of “quick win” resource efficiency savings available to UK businesses are the result of a smarter use of raw materials and waste minimization actions. These efforts have a payback period of less than a year.

According to research from the Ellen MacArthur Foundation, there is an increasing amount of evidence that shows that a circular economy, where materials are put back to practical use after their primary use has finished, has the potential to generate trillion dollar savings ($1.7 trillion).

To help businesses fully embrace a circular economy view of resources, the IEMA has launched two pieces for business use. The first, From Waste to Resources, serves as a guide for environment and sustainability professionals to convert their waste costs into revenue.

The second, Sustainable Resource Management, is aimed at non-specialists and decision-makers so they can fully comprehend the organizational benefits of sustainable resource management. In addition, IEMA has created a Resource Action Maturity Planner as a way for businesses to assess what steps they need to take in order to be successful through resource management.

Packaging LED & Advanced Rooftop Unit Control (ARC) Retrofits for Maximum Performance
Sponsored By: Transformative Wave

  
Planning for a Sustainable Future
Sponsored By: Dakota Software

  
10 Tactics of Successful Energy Managers
Sponsored By: EnergyCap, Inc.

  
Environmental Leader Product and Project Awards 2017
Sponsored By: Environmental Leader

  

Leave a Comment