July 27, 2008
M&S’s Green Adviser Hits Pay Dirt
By Mark Leftly
One of the world's leading green specialists, Environmental Resources Management, which advised Marks & Spencer on how to cut the carbon footprint of its clothes, will report a 20 per cent increase in profit next month.
Andrew Silverbeck, finance director of the London-based group, said that operating profits would be around $58m (29m) from consultancy fees of $445m.
ERM, which is co-owned by the private equity house Bridgepoint, is looking to expand in Kazakhstan, where many of its quoted mining and energy clients now work. Earlier this year, the company opened an office in Alaska, one of 135 in 40 countries around the world.
The consultant's work includes advising on the widening of the Panama Canal and an environmental appraisal of the project to channel water from the Red to the Dead Sea.
And ERM's advice to Marks & Spencer? Reduce washing temperatures.
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