Wednesday 8 July 2020

Businesses with net zero pledges ‘should be prioritised for government support’

Businesses with net zero pledges ‘should be prioritised for government support’

A staggering 85% of businesses believe organisations with a serious commitment to sustainability should be prioritised for post-COVID-19 government support.

That's according to new research from npower Business Solutions (nBS), which asked corporates what they would like to see included in the anticipated 'mini-Budget' tomorrow.

Almost 93% of the respondents said aligning with the UK’s net zero by 2050 target should be a key factor in the government’s recovery proposals.

The majority of businesses also suggest investment should be primarily directed to those in the transport, logistics, manufacturing and construction sectors.

Nearly two-thirds said the government should announce new incentives for businesses to implement sustainability measures.

In addition, 50% believe there should be an investment in existing renewable technologies such as electric vehicles (EVs), solar PV or wind, while 40% tend to support newer technologies such as carbon capture and storage (CCS) and hydrogen.

Wayne Mitchell, Director of npower Business Solutions Energy HQ, commented: "It makes sense to prioritise those businesses with a commitment to sustainability, as well as energy-intensive sectors, for government support.

“However, it’s also evident that it’s not enough for businesses to make pledges that cannot be backed up by meaningful action. The reputational impact resulting from accusations of ‘greenwashing’ could be particularly damaging as consumers become increasingly influential in calling out good and bad business practice.”

Written by

Bruna Pinhoni

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