Draft Business Waste Strategy PDF - london.gov.uk - Greater ...

120 Mayor of London
Making waste work in London The Mayor’s Draft Business Waste Management Strategy
5D It’s what’s on the inside that counts
Introduction
5.42 Increasingly businesses are recognising that managing their environmental
impact is not just a matter of compliance. By taking action over and
above minimum legal requirements, they can address both their own
competitive interests and the interests of wider society.
5.43 The opportunities for businesses that choose to be environmentally
responsible go beyond financial savings. Consumers are increasingly
demanding improved environmental performance and for goods and
services to be delivered in a socially and environmentally responsible
way. Corporate Social Responsibility (CSR), which describes how
a business takes account of the economic, social and environmental
impacts that result from the way it operates, is increasingly mainstream.
Organisations that ignore this demand may find it harder to compete
in London’s future marketplace.
5.44 There is a positive link between improved environmental performance
and enhanced financial performance. According to a literature review
undertaken for the government; ‘though the evidence is not able to
prove causality, it does suggest a virtuous cycle of financial and
environmental performance’ 261 . Research conducted by the Environment
Agency 262 has shown that companies with above average environmental
standards can financially out-perform those that are below average by
up to 43 per cent. Further, one in ten people would be prepared to take
a pay cut to work for a company with a better environmental performance
and 14 per cent would decline a job offer from an employer with a poor
environmental record 263 .
Environmental Management Systems
5.45 Certification to an accredited Environmental Management System (EMS)
demonstrates commitment to reduce an organisation’s environmental
impact and provides a practical framework within which environmental
issues can be managed. A properly managed EMS can help with managing
risks, liabilities and legal compliance, thereby avoiding costs associated
with prosecution and enforcement notices by regulators. Government has
stated that implementing an EMS ‘can help organisations improve their
resource efficiency and reduce costs’ 264 .
5.46 The universally accepted benchmarks for environmental management
systems are ISO 14001 and the Eco-Management and Audit Scheme
(EMAS). Both systems provide organisations with a structured approach
to implementing a bespoke management tool that integrates
environmental management with other management functions.