The figure was announced by the Department for Environment, Food and Rural Affairs (Defra) as part of new campaign launched today at WRAP’s annual conference.

Defra’s campaign called Saving money – it’s your business follows research from WRAP, also unveiled this morning.

WRAP claim 47% of businesses could make savings of more than £100,000 through low and no cost efficiency measures – such as turning off equipment when it’s not being used – with 17% identifying around £1m of potential savings.

Fronted by the environment secretary, Hilary Benn, DEFRA aims to help the environment by cutting costs for businesses.

Mr Benn said: “Businesses are facing challenging times, today more so than ever, so finding ways to save money makes a lot of sense.

“There are opportunities here in the UK too in the low carbon and environmental goods and services, where we currently have just over three percent of the global market.

“This will grow as consumers become increasingly environmentally aware and companies realise that waste is just a resource in another form.

“Sustainability is the key not only to the environment but to business success. Now is the time to shape our businesses of the future.”

Luke Walsh

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