A company's environmental performance can have a substantial impact on its profitability. Poor performance means that the company is liable for clean up costs, can increase its production costs and can build up liabilities for the future. In addition, an increasing number of stakeholders want to know about a business's environmental performance in key areas. Many leading businesses already publish stand alone environmental reports. There is a need to widen the take up and extent of environmental reporting so that the public, investors and the City can judge how effective companies are at managing their impact on the environment.
Consumers can have a huge impact on sustainable development through their influence as purchasers.
But they need help to make choices. In the short term, efforts may need to focus on simpler, standardised information on key products and key issues, such as energy consumption. Labelling and information schemes also need to be supported by improved general awareness levels and consumer education. In the long term, information technology will enable comprehensive product information to be presented at the point of sale. Household Appliances 29.