TaxCorporate TaxSustainability still low priority

Sustainability still low priority

Company directors in manufacturing are putting themselves at risk due to the absence of a sustainability policy.

Fourteen percent of British manufacturing companies polled in a new survey by law firm Nabarro Nathanson said they felt that industrial sustainability is ‘just a buzz-word’, while 6% they do not monitor the impact their companies have on the environment.

The firm has warned that despite the low figure many directors are putting themselves at risk of breaking environmental laws.

Other findings show that only 38% polled considered sustainable development to be important in generating income for their shareholders. More worryingly, 19% of firms polled were unaware of the Climate Change Levy which was imposed on all industrial energy use from 1April 2001.

Mike Renger, head of Nabarro’s environmental practice, said: ‘The debate on industrial sustainability at a European and international level is widening. It now encompasses not just environmental issues, but also social and economic issues. Directors of British manufacturing companies need to understand that reporting on sustainability will soon be as routine and credible as financial reporting in terms of comparability, rigour and verifiability.’

Links

Government is good for business

For the full report www.nabarro.com

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