Sustainability important for 2/3 of North West firms

Two thirds of SMEs in the North West want to improve their environmental sustainability according to a new survey, with pressure from customers and employees as the biggest drivers.

Posted on 22 January 2020

 

Two thirds of SMEs in the North West want to improve their environmental sustainability according to a new survey, with pressure from customers and employees as the biggest drivers.

The survey, conducted by Lloyds Bank Commercial Banking in November 2019, also reveals that more than two thirds (68 per cent) have taken steps to make their business greener over the last year.

More than a quarter have used suppliers that provide “environmentally friendly” products or services, and a similar proportion have purchased energy efficient equipment or machinery.

The most commonly cited driver for action was public demand and pressure from customers (28 per cent), followed by pressure from employees (21 per cent). A fifth of North West companies named cost savings as their primary motivation - slightly less than the overall national figure of 23 per cent.

More than a third said they planned to use their own cash reserves to invest in sustainability, while 17 per cent said they would rely on government grants.

‘Sustainability high on the agenda’

Martyn Kendrick, regional director for the North West at Lloyds Bank Commercial Banking, said: “With environmental sustainability high on the agenda for firms of every size – whether that means they’re doing what they can to reduce energy consumption or cut waste – North West businesses understand there is often a financial benefit to making their operations greener.

“Regardless of motivation, we can be confident the impetus to introduce green measures isn’t going anywhere. Becoming more sustainable is a gradual process the UK business community must navigate together.”

 

 

Posted under General Interest on 22 January 2020