Costs weigh on sustainability intentions

A report published by the Federation of Small Businesses (FSB) shows that small firms are keen to become more sustainable and achieve net zero status but require ‘smart and supportive policies’ to help them get there.

Data from a 1,200-strong poll conducted for the report, found that 56% of small firms believe the planet is facing a climate crisis. However, it also found that just 36% have established a formal plan to combat climate change within their business.

The report also revealed how costs associated with going green are impacting small firms’ ability to become more sustainable. For example, 24% of firms yet to take action are worried about return on investment, while 22% lack sufficient capital to invest in assets such as heat pumps and solar panels.

FSB National Chair Mike Cherry said, “Adopting sustainable practices on the journey to net zero is everyone’s duty. Small businesses are keen to play their part, but often don’t have the resources, deep pockets and dedicated specialists enjoyed by their larger counterparts, so can find identifying and taking the necessary steps a challenge. If we are to successfully transition to net zero, it’ll be through grassroots action, enabled by smart and supportive policies.”