Businesses have the opportunity to innovate to meet sustainability challenges, according to a new report.

The Institute of Environmental Management & Assessment (IMEA) warned that a “perfect storm” of climate change, population growth, loss of natural capital, water stress and resource scarcity was approaching.

Nick Blyth, IEMA’s Policy Lead and the report’s author, said: “Organisations can transform and mature towards the ambition of the truly sustainable business, but they need to establish a long view and look way beyond the ‘perfect storm’.

“The urgency is clear but so too is the opportunity with very real tangible, financial and reputational benefits for those organisations at the vanguard.”

Leading companies praised

The IMEA’s report highlighted work being done by leading companies in the area, including retailer Marks & Spencer, accountancy firm EY and London-based office supply firm Wiles Greenworld.

Blyth added: “There is no doubt that some businesses are further on in their journey to sustainability than others.
“The innovations being spearheaded by such businesses are inspiring and show what can be achieved when a long-term horizon is used.”

> Download the report