His comments follow a report from the Department for Environment, Food and Rural Affairs that suggested UK firms could save £23 billion a year by going green.
Last year, Marks & Spencer's plan A ecological programme made a profit of £50 million - which was put back into the company - according to the project's director, Richard Gillies.
Mr Powell proposed a combination of the new Green Deal and the Carbon Trust's offer of zero per cent interest loans to businesses looking to cut emissions - which he said "pays back" and cuts overhead costs.
Posted by James Green
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.