Research published by the British Chambers of Commerce – in partnership with O2 – has found that only one in ten (11%) of SMEs are measuring their carbon footprint.
BCC surveyed 1,000 UK SMEs and the research also found that only one in seven (13%) have set targets to reduce their emissions – down from one in five (21%) when firms were surveyed before the pandemic in February 2020.
In addition, almost two thirds (64%) of businesses surveyed say they don’t see Net Zero targets as a high priority in the wake of the pandemic, although half (49%) admit their customers are worried about the environment.
The findings also show that one in five businesses (22%) don’t fully understand the term ‘Net Zero,’ and almost a third have yet to seek advice or information to help them develop a net zero roadmap or improve their environmental sustainability.
With the impacts of the pandemic and other priorities weighing heavily on small and medium sized businesses, the research found that smaller firms were far more likely to be behind on climate action. When it came to setting carbon reduction targets, 27% of larger firms have done so, compared to just 9% of microbusinesses.
The main barriers preventing respondents making their business more sustainable are high upfront adaptation costs (34%) a lack of finance (30%).
Getting access to grants (28%), tax allowances (14%) and reducing the costs of making adaptations (14%) were cited as the three steps businesses would most like to see to help them reduce their carbon consumption within the next six months
While 13% said they would like access to impartial, bespoke advice with an action plan – and almost a third said they look online for advice on net zero and environmental sustainability.
In response to the findings, the British Chambers of Commerce and O2 have launched to help businesses find out how to measure their carbon footprint, set targets and develop an overall net zero strategy. The new hub provides a one-stop-shop for businesses to find out everything they need to know about Net Zero. It is packed with information on how to apply for grants, where to seek specialist advice and practical tips from firms that have already taken action.
Jo Bertram, Managing Director, Business & Wholesale at Virgin Media O2, said:“In May, the Government called on small businesses to lead the charge and pledge to reach net zero by 2050 or sooner, but our research shows that to do this, they need more support. From microbusinesses to larger firms, SMBs have told us they’re concerned about the environment, but in the wake of lockdowns and growing economic pressures, the majority are understandably facing barriers to improving their sustainability.
“That’s why we’ve launched the Net Zero Hub: to provide businesses of all sizes with the free online resources they need to accelerate their net zero journey. Whether they have just started or are well underway, the hub offers practical guides, real-life insights and useful tools to help small businesses reap the benefits of reaching net zero. Small businesses make up 99% of the UK’s business landscape, and we’re committed to helping them cut their collective carbon footprint and play their part in building a cleaner, greener future for the UK.”
In 2020, O2 became the only mobile network operator in the UK to commit to Net Zero by 2025, whilst working with supply chain partners to reduce emissions by 30% in the next five years. O2 Business is working with organisations of all sizes to help build a lower carbon economy through better connectivity – from smart meters and smarter working through to connected cars and air pollution monitoring.In 2020, O2 Business helped customers save 1.4m tonnes of carbon through B2B products and services
