Germany ahead of UK in green growth
Research by the Carbon Trust shows that Britain's business leaders believe that the UK is falling behind Germany in taking up the green business opportunities.
The research says that there is a global environment market worth £3.2 trillion, and leadership among British business is vital if the UK is to take advantage of it.
The Carbon Trust found that while 92% believe green growth represents an opportunity for British business, only a third are actually investing money in the research and development of green products and services.
Of the business leaders surveyed, 77% said that the key benefit of 'going green' was to enhance their corporate reputation. A third said that that having a sustainable business plan can increase profits.
The Carbon Trust CEO, Tom Delay, said: "The consequences of British business failing to grasp this opportunity are almost too horrific to consider: anaemic growth, a jobless recovery and the risk of a return to the economics of boom and bust.
"We cannot afford to carry on as we did before. Businesses need to look beyond the short-term financial reporting cycle and place some smart, early bets on the future.
"Otherwise the cost, both to the UK's economy and to the environment will be too great to ignore."
The research coincides with the launch of a new Carbon Trust 'Green Growth' campaign backed by business leaders. Alison Brown