Recession scaring firms away from green energy initiatives

A majority of businesses plan on cutting back investments on energy and water efficiency initiatives as the struggle with the effects of the recession, it has been reported.

In news likely to be of interest to business leaders on the other side of the Irish Sea, 55 per cent of those UK firms polled by the Environment Agency admitted that water and energy efficiency have fallen down their list of top priorities over the past few months.

Indeed, 40 per cent of those companies in the service sector, such as bars and restaurants, claimed to have no water efficiency measure in place at present, despite the fact that short-term investments have been proven to lead to long-term gains.

Furthermore, almost three in four companies in the south-east of England were found to have no formal policy on energy efficiency in place, with this situation unlikely to change while economic conditions remain tough.

At the same time, however, the Irish government has announced that it is to create funds aimed at helping businesses undertake green energy initiatives.

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