To promote eco-efficiency and achieve more sustainable production and consumption we need to stimulate and support those influences which encourage producers to provide better goods and services while using resources more efficiently. And we need to discourage those which waste resources. Different markets and products will require different approaches and the range of options will vary from sector to sector. For some, the model of market transformation provides a valuable framework within which to set long term goals. Market transformation provides a means to encourage better goods and services through a mix of mechanisms such as financial and marketing incentives to improve product quality, negotiation of long term agreements on goals and targets, progressive improvements in best practice, minimum standards and responsible care or producer responsibility for the product.
Company reporting on the environment is also a key element.
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.