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27 Feb 2009 05:02:07

Corporate energy efficiency boosted by recession

Corporate energy efficiency boosted by recession
Interest in cost saving energy efficiency measures is being boosted by the downturn in the economy, even as companies see climate change initiatives slipping down the agenda, according to a survey.

The study by the Economist Intelligence Unit revealed that almost three quarters of 538 executives polled said they would make energy efficiency a high or moderate priority over the next two years.

At the same time, 67 per cent said that they expected initiatives to combat climate change to receive less attention as a consequence of the global financial downturn.

Robin Bew, editorial director of the Economist Intelligence Unit, said: "This report shows that, although businesses will necessarily switch focus to survival mode, many firms are starting to embrace some of the short-term cost benefits of energy efficiency. A significant minority are also discovering longer-term business opportunities relating to climate change."

The survey also found that about half companies already had developed climate change strategies.

This figure was similar to the results of a survey by Zogby International for Cisco.

Some 54 per cent of respondents to the Cisco survey said they were likely to use technological solutions as part of their overall green strategy, while two thirds would consider using IT to manage energy consumption.



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