Study finds one in five SMEs in UK are not committed to netzero

Only half of small businesses (52%) currently have a netzero policy in place – with 22% admitting this is not one of their top commitments among the cost-of-living crisis.

The UK government has legislated a netzero emissions target for all sectors of the UK economy by 2050. But with the economic climate impacting the stability of SMEs, 29% admitted they would take a financial penalty in the future, rather than prioritise working towards meeting this target now.

Gaining new customers, growing business revenue year on year, and increasing efficiency, are all higher priorities as small business attempt to stabilise through the cost-of-living crisis, according to a poll of 500 SME decision makers.

And despite 78% being aware of the government’s target, they admit their own part in helping to achieve it is not their main concern at the moment.

Almost a quarter (23%) reckon they have a rough idea of requirements of the net zero target and what they’d need to do – but 17% don’t currently know anything about it.

Over half of business leaders are keen to hire staff who can demonstrate their consciousness of climate change

Despite other priorities, the research found 67% are committed to becoming net zero – though 22% were not.

And 29% weren’t confident in their ability to identify their organisations’ current carbon footprint, according to the data from OnePoll.

Nearly a fifth (18%) admitted they have a lot of work to do to ensure their organisation can reach such targets – although 43% reckon they only have some adjustments to make.

Further research from BSI’s Net Zero Barometer, of 1,003 SMEs, found only 52% of businesses currently have some kind of net zero policy in place.

However, over two-thirds of SMEs are committed to becoming net zero in the future

It also emerged 31% see such business changes as an opportunity to enhance their reputation with customers, while 30% think it will be seen as appealing to employees.

From a consumer perspective, a poll of 1,029 adults revealed that, despite the ongoing cost-of-living crisis, 73% would be prepared to pay more for an item or service if there’s good green credentials on show.

And 30% were even happy to always sacrifice quality of the end result, if it meant improved eco credentials all round.

Meanwhile, 83% were more likely to be loyal to an environmentally conscious brand.