British manufacturers can create an additional 300,000 jobs and boost profits by £10 billion a year by adopting more energy-efficient business practices, a new report claims.
The ‘Next Manufacturing Revolution (NMR)’ report set manufacturers this target after investigating the most efficient practices currently taking place across the globe.
The report, published on nextmanufacturingrevolution.org, indicated that the average manufacturer had logged efficiency gains between 10 and 15 per cent over the last decade. Yet, the most efficient companies had reported gains of over 50 per cent.
With improvements consistently being made in all elements of the industry – from haulage vehicles to packaging machinery – it should not be too difficult for other manufacturers to mirror the industry leaders.
In an interview with businessgreen.com, business secretary Vince Cable tipped the publication of the NMR report to help businesses do just that.
He said: “I welcome this report for the important issues it raises around sustainable manufacturing and the range of opportunities it identifies for UK industry to improve its productivity through more efficient use of resources.
“It fits neatly with my objective of strengthening the manufacturing sector in a forward looking and sustainable manner. There are many companies cited in the report as best proactive leaders and I am very supportive to follow their lead.”
It was suggested that the average manufacturer could reduce their carbon emissions by 4.5 per cent by following practices outlined in the report.