The report noted that more than 40% of jobs could now be done from home as a result of technologies such as broadband internet and cloud computing, but just 13% of the employees in the UK do so, and only 35% of businesses have policies allowing employees working from home.
According to the report, allowing staff to work from home two days a week can save on average 390kg of carbon a year from their commute alone, and that further savings are available for businesses to rationalise and reduce their office space requirements.
The trust estimates that increasing desk utilisation from 65% to 80% in an air-conditioned office in London can save 700kg of carbon a year and £195,000.
The Carbon Trust managing director of advisory Hugh Jones said homeworking is on the rise, with numbers increasing by more than half a million since 2007.
"This new research shows that in the right circumstances, it has the potential to be expanded significantly and be a win-win for business and the environment," Jones added.
"Significant financial and carbon savings can be achieved from the roll out of homeworking. But companies must be careful to ensure that they get the balance right, for if employers do not take account of their individual circumstances, a rebound effect, from employees heating inefficient homes, may actually lead to an increase in carbon emissions."
