Energy efficiency can save '£1m a day'

SMEs are being encouraged to take out interest-free loans for energy efficient equipment A campaign has been launched to urge UK businesses to save £1m a day during the recession by being more energy efficient.

The Carbon Trust's One Million a Day campaign is encouraging businesses of all sizes to join up and begin making immediate savings on their energy bills - simultaneously reducing their carbon emissions. It is hoped that the campaign will save the UK economy £1bn over the next three years and reduce carbon emissions by at least 17m tonnes. The trust said businesses could save up to 20% on their energy bills through changes that cost little or no money. "All businesses, whether big or small, should realise easy cost savings by taking sensible energy efficiency measures," said Tom Delay, chief executive of the Carbon Trust. "Every business should be asking how much cash their company can save by cutting carbon." Climate Change and Energy Secretary Ed Miliband said: "By taking action now to reduce energy use and cut carbon from our goods and services, British business has the opportunity to not only save money and create jobs, but set us on the path to becoming an innovative low carbon economy." The campaign is being backed by a number of major high street names, industry bodies and environmental groups, as well as Dragons' Den entrepreneur Theo Paphitis. Mr Paphitis said: "Businesses of all sizes need to find ways to cut costs in this economic climate - that's a fact. "There are ways to save cash without affecting the day-to-day running of the company, and finding ways to reduce energy is one sure-fire way to do this." Small and medium-sized businesses are particularly being targeted by the campaign and are being urged to take advantage of a £35m Carbon Trust fund to upgrade or replace existing equipment to more energy efficient versions. The fund provides SMEs with interest-free Energy Efficiency Loans of up to £200,000. Kate Martin