Privately held businesses globally still willing to introduce 'green' practices

Despite the global downturn, plenty of privately held businesses (PHBs) are still prepared to introduce 'green' practices, according to latest research from the Grant Thornton International Business Report (IBR) - even if those green practices have a negative effect on the bottom line.

When asked to rate the environmental friendliness of their business community and their appetite for introducing green practices, the 7,200 senior executives in PHBs across 36 economies created a global picture of those prepared to take the initiative on green practices and those unwilling to put their bottom line at risk.

The top left quadrant, including Greece, Turkey, Argentina and mainland China, contains the economies with low perceptions of environmental friendliness within the business community but where, despite this perception, PHBs are most willing to take the initiative and introduce green practices themselves.

In contrast, in other countries with similar perceptions about the environmental friendliness of their business communities like Russia, Armenia, Belgium, France and the UK, PHBs said they were much less likely to introduce green practices that might affect their bottom line.

Alex MacBeath, global leader of privately held business services for Grant Thornton International explains, "It is fascinating to see where in the world the greatest appetite for green practices lies. Despite the downturn, profit is clearly not the only factor driving PHBs and we should take great encouragement from their desire to build sustainable businesses. In my view, those who persist with their green agenda during the downturn will be the businesses best placed to seize competitive advantage when the upturn comes."

Interesting global variations emerged. A net percentage balance of +30% of all PHBs rate their business community 'environmentally friendly' with Nordic countries top of the league table at +61% and Greece and Turkey at the other end of the scale at -42% and -41% respectively. Of the +51% of businesses globally saying that they would introduce green practices even if they negatively affected the bottom line, the Asia Pacific and Latin American economies showed most willingness to do so at +57% +56% respectively.

The Grant Thornton International Business Report is an annual survey of the views of senior executives in privately held businesses all over the world. Launched in 1992 in nine European countries the report now surveys over 7,200 PHBs in 36 economies providing territory, regional and global trend data on the economic and commercial issues affecting a sector often described as the 'engine' of the world's economy. Data for eight key industry sectors will be available for the first time in 2009. The research is conducted by Experian Business Strategies Ltd. Grant Thornton International donates US$5 to UNICEF for every completed IBR questionnaire, a donation of over US$39,000 in 2008.

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