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Korea Business Demands More Tax Breaks for Green Investment
A new global survey by workspace solutions provider Regus, has found that 44% of Korea companies have declared that government tax breaks are required to accelerate green investment take up.

The Regus survey revealed that only 37% of companies worldwide actually measure their emissions and less than a fifth of companies (19%) measure the carbon footprint left by their activities. 46% of companies globally declare that they will only invest in low-carbon equipment if the running costs are the same or lower than those of conventional equipment. A disappointing 40% have invested in low-carbon equipment and only 38% have a company policy to do so.

In Korea specifically, the survey found that 11% monitor their carbon footprint and 44% had no company policy to invest in energy efficient equipment. Running costs were found to be very important to 22% of companies who declared that they would only invest in low carbon equipment if it were cheaper or the same to run as conventional equipment.

Finally an overwhelming 44% of companies declared that if government offered tax incentives to invest in energy efficient or low-carbon equipment businesses would significantly accelerate their green investments. Globally, small companies are below average on their actual and predicted level of green investment, indicating that smaller businesses are harder pressed to select low-carbon equipment when this comes at marginally higher price, as short-term needs are more urgent than long-term investment. Only 19% of small companies monitor their carbon foot print compared to 43% of large businesses. Similarly only 36% of small businesses had invested in green equipment compared to 59% of large businesses. Ambitious government targets are evidently not taking into account the reality of green equipment take up among smaller businesses.

The survey also analysed sector differences. 43% of companies in the ICT sector, recently uncovered to produce the same amount of emissions globally as the airline industry,[1] measure their carbon foot print. 53% of companies in this sector had invested in green technology and 57% had a policy to do so. By contrast only 25% of companies in the consultancy sector monitor their carbon foot print, but 71% declared that the majority of their equipment was energy efficient.

Filippo Sarti, CEO of Regus Asia, comments:
“Take-up of green equipment and monitoring initiatives is still disappointingly low, particularly for smaller companies. Yet small and medium-sized companies generate half of any country’s business revenues. If government is serious about meeting ambitious carbon emission reduction targets by mid-century, then it needs to properly incentivise the change. At the moment, low-carbon business technology is often limited in range and sold at premium pricing. This is proving an obstacle for businesses to invest. Tax breaks will help enormously, as our survey shows, and by accelerating take-up will also help to create a mass market where unit prices fall.

“Environmental investments are not limited to technology alone, but need to be applicable to all effective and measurable environmental initiatives, such as the minimisation of premises under-occupancy. Conservative estimates hold that 38% of office space is unoccupied at any given time[2], yet that space is still being heated, cooled and lit, generating tonnes of unnecessary carbon emissions each year. Reducing office under-occupancy should therefore be just as eligible for tax breaks as low-energy equipment.”

About Regus

Regus plc (LSE:RGU) is the world’s leading global provider of innovative workspace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the world’s largest network of video communication studios. Regus delivers a new way to work, whether it’s from home, on the road or from an office. Clients such as Google, GlaxoSmithKline and Nokia join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to Regus, allowing them to focus on their core business.

Over 500,000 clients a day benefit from Regus facilities spread across a global footprint of 1,000 locations in 450 cities and 80 countries, which allow individuals and companies to work wherever, however and whenever they want to. . In Korea, the Regus offices are located at Seoul Gangnam Kyoung Am Building, Seoul Korea First Bank and Seoul World Trade Center .For more information please visit:
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Bryan Joseph

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