Costs preventing 1 in 5 businesses from reducing carbon emissions
26th October 2021
Businesses are struggling to implement carbon-reducing solutions, with 18% reporting the cost of change is preventing them from reducing their emissions, according to the Office for National Statistics (ONS).
Of businesses that have permanently stopped trading, 37% reported they had taken at least one action to reduce their carbon emissions, while 22% said they had made no changes.
After the cost of implementation, a lack of knowledge of how to measure emission output was the next most common reason (10.5%).
However, 32% of businesses said there had been nothing at all to stop them from implementing changes.
The Government recently released its ‘heat & building and net zero strategies' report, which commits to supplying small businesses with a £5,000 heat pump grant.
Mike Cherry, chair of the Federation of Small Businesses, commented on the report:
"Our 5.6 million small firms make up 99% of the business community.
"Unless they are empowered to make change with the right information, direct support and incentives - including reform of a business rates system that punishes sustainable investment - net zero targets simply won't be met."
Talk to us about your business's finances.