How small businesses can gain a market advantage through sustainability
- 2 years ago
Small businesses who prove they are genuine about the environment can gain clear market advantages - despite a new report which says only 10% of them see clear business benefits from climate action.
The Royal Bank of Scotland report, Springboard to Sustainable Recovery, says the move to net zero could create 30,000 new small businesses across the UK - and 130,000 new jobs. The business opportunity for SMEs (small and medium-sized enterprises) is put at £160 billion.
Judith Cruickshank, Managing Director for Business Banking at Royal Bank of Scotland and NatWest Group, tells The Scotsman podcast series A Greener World Needs A Plan: “SMEs are the lifeblood of our economy, they contribute 50% of turnover and 60% of employment. So they have a significant role to play in the transition to net zero.
“From their own businesses SMEs are accountable for 30% of UK emissions. But they can help drive a much greater reduction in that through developing and delivering solutions. For example, the UK’s transition to net zero will need to support 5 million installation retrofits across homes, 3 million heat pump installations, 125,000 electric vehicle charge point installations - and we need businesses to help deliver that.”
The Royal Bank of Scotland report, Springboard to Sustainable Recovery, says the move to net zero could create 30,000 new small businesses across the UK - and 130,000 new jobs. The business opportunity for SMEs (small and medium-sized enterprises) is put at £160 billion.
Judith Cruickshank, Managing Director for Business Banking at Royal Bank of Scotland and NatWest Group, tells The Scotsman podcast series A Greener World Needs A Plan: “SMEs are the lifeblood of our economy, they contribute 50% of turnover and 60% of employment. So they have a significant role to play in the transition to net zero.
“From their own businesses SMEs are accountable for 30% of UK emissions. But they can help drive a much greater reduction in that through developing and delivering solutions. For example, the UK’s transition to net zero will need to support 5 million installation retrofits across homes, 3 million heat pump installations, 125,000 electric vehicle charge point installations - and we need businesses to help deliver that.”