UK economy could gain billions from resource efficiency

New research has suggested that the UK economy could add as much as £76.9billion in value by 2030 if it chose to be more efficient with its resources.

A report by the Aldersgate Group titled ‘Amplifying action on resource efficiency’ has suggested that if the UK was to become more efficient with its materials then it could reduce its carbon and environmental impact while simultaneously boosting productivity and competitiveness.

Drawing its findings from 26 pilot projects in the UK and the Netherlands, the report claims that these projects were able to deliver close to £5m in financial savings through reduced materials consumption and also able to significantly cut their greenhouse gas emissions.

Resource efficiency involves the sustainable management and usage of raw materials and resources throughout their entire life cycle and adopting production and consuming habits that are in line with the physical limits of the planet. Studying these findings, the Aldersgate Group, which includes companies like Sky, Marks & Spencer’s and IKEA, has suggested that adopting resource efficiency models could boost the GVA of the UK by £76.9 billion.

Do you think these new findings will encourage businesses in the UK to adopt a less wasteful approach to their use of materials and resources? Tweet us at @LSPSltd to let us know your thoughts.