MEED launches first sustainable business survey in the Gulf

- New survey examines industry attitude to sustainable development

- 84 per cent of respondents say law is required to force business to operate in an environmentally sustainable manner

The MEED sustainable business survey 2007 is the region's first ever survey of its kind, seeking to determine the attitudes and perceptions of the Gulf's booming business sector towards climate change.

The exclusive research completed by business professionals across the Gulf reveals that a massive 99% of respondents believe that businesses have an obligation to behave in a sustainable way and 84% of respondents say this should be a legal requirement.

Among the areas that respondents say would benefit from tighter regulation are waste management, reducing energy usage, pollution control and utilising sustainable building materials. Most businesses say that new laws must be strictly enforced to ensure they don't suffer any financial disadvantage against their rivals who opt out of sustainable practices.

Further insights from the survey reveal:

94 per cent of respondents say that environmental concerns will become more important to businesses in the future.
91 per cent of respondents said that governments across the region should introduce incentives to encourage environmentally sustainable business practices. Suggested incentives include; free recycling schemes and preferential treatment in government tenders for environmentally clean firms.

The survey reveals a desire for import tax reductions on low-emission vehicle engines, an increase in landfill tax, and the introduction of a carbon tax on petrol and gas. There were also several calls for renewable energy alternatives to be subsidised.

88 per cent of respondents maintain that they would back the introduction of a carbon trading emissions system and 62 per cent of firms say they would take part in this.

Sean Brierley, Editor-In-Chief of MEED said:

"Sustainability is becoming an increasingly significant concern in the Gulf with governments and businesses making a notable attempt to decrease the region's carbon footprint. This exclusive research from MEED offers a key insight into the importance of economic, social and environmental aspects in the Middle East, providing a clear reflection of the attitudes of businesses throughout the region. Environmental issues have undoubtedly risen up the corporate agenda in recent years but, with much of the region's economic activity dominated by government-owned firms, many are looking to the state to provide an answer. This survey shows that the public will only truly take sustainability on board if the government forces the issue.

The survey is part of a special report on alternative energy and sustainable business development in the Middle East published in this week's MEED. The report also examines the development of alternative and renewable sources of energy in the region.