A new report has revealed that businesses are calling for additional financial support from the government to help with the UK’s low-carbon transition. The NPower Business Solutions report consulted with nearly 100 businesses across sectors including manufacturing, public sector and professional services to gauge opinions and potential impacts on the net zero target.
The report states that 75% of businesses believe net zero by 2050 is achievable, with an overwhelming 83% believing their business will benefit from a net zero transition. Reasons included greater operational long-term resiliency though saving money and reducing carbon emissions and the opportunity to diversify into areas which promote sustainability. The report also cites that making the move to net zero will improve your business reputation, give you a competitive advantage and make you appear a more attractive proposition for potential customers.
However, 46% are extremely concerned about the potential economic impact on their business as they transition to net zero. Opinion was split on who should fund the majority of the transition, with government, large energy intensive industries and financial institutions all ranking highly among respondents.
Furthermore, new government incentives in future policy announcements are being called for to encourage investment in either renewable technologies or the flexibility to give businesses the opportunity to change their demand, generate their own energy and support the grid.
Anthony Ainsworth, Chief Operating Officer, I&C, commented:
“The initial announcements from the government this summer to improve energy efficiency in homes and public buildings were a promising start, but – at the moment at least – they lack any major net zero stimulus for businesses.
There is a real willingness from business to embrace net zero – they just need the policy clarity and additional support to help them achieve it.”
Government, along with the industry power giants, have important and difficult decisions to make as 2050 approaches, with financial backing and additional support both required.
Boxfish are here to help your business transition to net zero. By starting the transition now, we’ll work with you to set out a clear road map which will be considerate to your budgets and make you a leader in your field. Our expert team can help identify the steps needed to move your business toward a low carbon future, such as installing low carbon / renewable technologies, promoting the use of electric or hybrid vehicles and switching your fuel source from fossil based to cleaner, renewable sources. Now is the time to act.
If your business is thinking of going green and would like to discuss the options available please get in touch by calling us on 0141 226 8525 or drop us an email at email@example.com