More than half of retailers say they have changed the way they consider business travel out of concern for the environment, a survey has revealed.

According to specialist business cash flow provider Bibby Financial Services, one in five retailers are trying to cut down on face-to-face business meetings by opting for conference calls. 21 per cent take the train wherever possible.

The research revealed that the companies that are most likely to consider environmental issues are those that have been founded since 2000. Out of these, 29 per cent have changed their company vehicles to more fuel-efficient models and 23 per cent have introduced green policies such as car share and cycle to work schemes.

Bibby Financial Services global chief executive David Robertson said: “With nearly three quarters [72 per cent] of businesses feeling the effects of rising fuel prices, it is just as well so many have been acting on their concern for the environment as this must have helped reduce costs.

“However, implementing environmental changes can take a huge amount of effort and commitment. Some of these will also have a financial impact, so businesses need to make sure their cash flow is healthy so they can fund any of their planned changes.”