Businesses need to forget about how 'going green' once meant higher costs. These days, reducing your carbon footprint can cut costs and increase revenue, according to an industry expert.

In a recent white paper published by the lharrington group, president of the company Lisa Harrington explains that businesses need to rethink their logistics and supply chains, with an effort to improve energy efficiency.

The paper, titled "Closing the loop: building the environmental supply chain",  points out that eco-friendly best practice can significantly increase a company's bottom line. For example, consumer company Proctor & Gamble recently reported cost savings of nearly $1 billion (£620 million) from its environmental supply chain.

Ms Harrington says that the 'recipe for success' is to get the principles of reduce, reuse, recycle and recapture right.

There are also additional benefits to improving a company's green credentials.

"Where the environmental supply chain model is executed correctly, companies are capitalising on increased revenue and social kudos from customers, while also ensuring their business is operating in-line with necessary compliance measures," she explains.