As part of the global effort to combat climate change and limit global warming, the UK government has set a legally binding target for the country to reach net zero greenhouse gas emissions by 2050.
Whilst combating climate change is a worthwhile cause, often the views and perspective of small and medium sized enterprises (SME’s) are overlooked. Given that 99.9% of all private sector businesses are classified as SMEs they will need urgent support to meet the demands of the climate crisis, or risk being left behind in the carbon economy.
“I would say to SMEs, if you want to be in business in 10 years’ time you need to take this as one of your top five strategic priorities. Or you will not be in business.”
Why do you need a net zero strategy?
As we move forward, more and more businesses are going to need to think about their net zero strategy, here are some of the reasons.
Regulation
Net zero strategies will help businesses comply with current and future regulations aimed at reducing carbon emissions.
Innovation
Businesses will need a net zero strategy to drive sustainable innovation, reduce long-term costs, and stay competitive in a rapidly evolving market.
Environmental
Business activity is significantly contributing to climate change. Reducing emissions is crucial to mitigate these impacts.
Economic benefits
Attract investment, and open up new business opportunities. It can also help businesses save money by reducing energy costs and improving efficiency.
Organisational reputation
Consumers are increasingly favouring environmentally responsible companies. A net zero strategy can enhance a company’s reputation, attracting eco-conscious customers and investors.
How we can help
Action, even done quickly, is better than inaction and can mark the beginning of a longer journey. However, acting too quickly for short-term gains carries risks. These measures are often isolated tasks or projects, which can improve sustainability but may lack a cohesive strategy.
One-off projects like installing solar panels or recycling bins are positive steps, but to maximise sustainability gains, they should be part of a longer-term strategy with clear milestones and targets.
The implementation of a net zero strategy is going to be resource intensive (in terms of time and cost) for many SMEs due to the requirements of capturing and collecting the relevant data and processing it to set net zero targets. Furthermore, many SMEs are unable to understand how to achieve these targets in a cost-effective and timely manner.
With our knowledge and expertise of scope 1, 2 and 3 emissions and guiding companies towards their own carbon reduction plans, we will work alongside your business to Analyse, Integrate and Deliver on your net zero strategy.
