This is according to new research from Verdantix, which found that many chief executive officers are preventing their firm from progressing by selecting the wrong person to oversee its sustainability strategy.
The report indicated a dedicated position should be created, where an individual is responsible for generating revenue from initiatives such as smart grids, recycling and energy efficiency.
One of the roles of the chief sustainability officer could be to negotiate cheap electricity deals for the business, as well as oversee the introduction of a low-carbon strategy.
"The sustainability and climate change market will grow at an annual rate of 14 per cent between 2009 and 2013," observed research leader David Metcalfe.
Companies based in Cambridge that are wanting to take steps to become more energy efficient have been invited to an event being run by the Environment Agency and the Institute of Directors, which will focus on cutting carbon output.
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