Progress

Finance
November 25, 2021
2 mins

Is it Time for Your Green Transformation?  

Key take away points:

  • Why taking action against climate change is no longer an option
  • How future proof is your business?
  • 8 ways to reduce your carbon footprint

The Importance of Businesses Going Green

*Data correct at the time of publication: November 2021.

Sustainability, greener workplaces, carbon footprint, COP26, climate change… If you are the owner of a business that still has a significant carbon footprint, you are probably feeling a little overwhelmed right now. There is a lot of work and change ahead of us if we want to slow and stop the effects of climate change, and sticking your head in the sand really isn’t an option anymore.

The government has released the following statement:

“At COP26 and beyond, the UK government is calling on all businesses, of all sizes, to pledge to go One Step Greener and sign up to the globally-recognised UN Race to Zero Climate Commitment, which helps organisations become more energy efficient, switch to electric vehicles and active travel, and become landfill free. By doing so, they can protect the planet, business, and help us start a green business revolution.”

Here are explore why and how UK businesses can take action on climate change and kickstart their green transformation.

The Motivation to Go Green

The COP26 summit produced what is being called the Glasgow Climate Pact, an agreement between 197 nations of the world to reduce the impact of climate change. The aim is to keep the planet’s temperature rise below 1.5C – this is what scientists say is required to prevent a "climate catastrophe".

Key points that have been agreed in the pact include:

  • There is an explicit plan to reduce use of coal, which is responsible for 40% of annual CO2 emissions, but some countries would only agree to "phase down" rather than "phase out" coal after a late intervention by China and India.
  • The world's biggest CO2 emitters, the US and China, pledged to cooperate more over the next decade in areas including methane emissions and the switch to clean energy.
  • Leaders from more than 100 countries - with about 85% of the world's forests - promised to stop deforestation by 2030.
  • A scheme to cut 30% of methane emissions by 2030 was agreed by more than 100 countries.
  • The countries will meet again in 2022 to pledge further cuts to emissions of carbon dioxide (CO2) - a greenhouse gas which causes climate change.

However, despite what may appear to be steps in the right direction, the Glasgow Climate Pact is not a legally binding agreement, and there are many who believe the targets set out do not go far enough. Even if every country was to achieve what they have pledged to, scientists estimate that we will only limit global warming to about 2.4C.

So, where does that leave us? Essentially, with plenty more work to do if we want to, quite literally, save the world and businesses want to show their customers that they are doing their bit.

Are UK Businesses ready to move ‘One Step Greener’?

Carbon footprint has become the standard  when measuring the environmental impact that any activity has on the environment. It represents to the amount of carbon dioxide released into the atmosphere by performing an activity. From the emissions produced by your fleet to a member of staff drinking from a non-recyclable plastic bottle of water on your premises, every act leaves a carbon footprint.

We have created a free scorecard for businesses called ‘Is your business future proof?’ which asks 12 quick questions about your workplace, technology and any environmental measures you’ve taken. According to the results we have collated in the last two months, with the exception of LED lighting installations, UK businesses have a way to go in their green transformations.

Contact us today to discuss financing green investments for your business.

The Results

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