This document summarizes a networking workshop focused on identifying opportunities for businesses to profit from environmentally sustainable practices. It outlines both incentives ("carrots") and regulations ("sticks") that encourage green business strategies. Some key opportunities discussed include reducing costs through energy efficiency, marketing green credentials to attract customers, and improving staff effectiveness with environmental training. The document also notes challenges such as the long-term effort needed to transform business culture and the difficulty of accessing practical sustainability advice.

1. networking+workshop: Green Profits Bordeaux Quay, Bristol 14 March 2011, 6-9pm kindly supported by:

2. summary of workshop what are the win (for the environment) + win (commercially) opportunities?

3. General points Carrot and stick approach Carrot = reduce costs, increase income, strengthen brand, improve people Stick = compliance with standards, legislation and regulations

4. Reducing operating costs Early planning to cope with reducing natural resources May involve initial financial investment to reduce long terms costs e.g. purchasing low energy CPUs/processors Tax incentives should be introduced?

5. Increasing current sales/developing new income streams Tailor your message to different markets and capture new business Potential clients/customers with high environmental standards will choose to do business with like-minded companies Wealth of opportunities in public sector (buying power/public buildings/large employee base)

6. Strengthen your reputation Communicate your environmental message to clients/consumers and make this message consistent across the company Motivate staff to engage with what you are trying to achieve which reduces perception of green washing”

7. Compliance with standards and regulations So many different standards – there is a case to create one standard to simplify compliance Companies Act 2009 makes directors of companies responsible for the social and environmental impact of their business

8. Improve effectiveness of employees Sustainability needs to become a genuine part of company culture and brand Use training for the whole organisation to ensure the company is internally on board with the message before communicating externally Resource efficiency - understanding what your company and its employees want to do and what they can do to be more environmentally sustainable

9. Challenges (1) Recognise that establishing a good and effective ‘green’ policy is a long term process Recognise the challenge of converting established business practices/employees to a new culture/brand identity Lots of ‘green’ advice for consumers but accessing advice for businesses seems daunting

10. Challenges (2) Finding and communicating available opportunities e.g. hydro power in Iceland and adopting those which work for your business/company

11. Carbon Trust Finding and communicating available opportunities e.g. hydro power in Iceland and adopting those which work for your business/company

12. Carbon Trust free guide to Green Growth, from: http://www.carbontrust.co.uk/cut-carbon-reduce-costs/reduce/small-organisation/pages/default.aspx