Olympians help east London businesses reap green rewards in the 2012 run-up

FORMER Olympians highlighted how businesses who want to bid for 2012 contracts will need to be able to demonstrate their environmental credentials at an event in Canary Wharf today (Thursday).

Research released today shows that while the downturn has spurred a new generation of businesses to adopt green initiatives in their drive to cut costs, the focus on expenditure is distracting firms from the broader risks and opportunities of becoming environmentally responsible.

This research was revealed and discussed at an event hosted by Loyds TSB Commercial at the Four Seasons Hotel in Canary Wharf.

Former Olympians Steve Backley, who won silver in the javelin event in Sydney in 2000, and Roger Black, who won silver in the 400 metres in Atlanta in 1996, spoke about their own experiences of the Olympic Games.

Hosted by Neil Mahoney, regional director for Lloyds TSB Commercial in London and East, the event saw more than 200 East London businesses hear how they could improve their environmental credentials and reap the commercial benefits of adopting sustainable policies.

According to a new report, the most common cause of ‘environmental inertia’ for business in the South East is the financial cost of taking action. Almost half of the firms canvassed (46 per cent) cite cost as the principle downside of pursuing environmental initiatives.

John Maltby, managing director for Lloyds TSB Commercial, said: “The fact is that no business can afford to ignore the environmental issues. There are huge risks for any company that does not improve its credentials.

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“Equally there are huge opportunities to be seized as well. Businesses that can think strategically about how environmental responsibility can help attract customers will position themselves well for future growth.”

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