Wednesday 9 December 2020
‘Businesses want to decarbonise, but in many cases can’t access the capital needed to do so’
That's the suggestion from Bill Rees, Commercial Director at Centrica Business Solutions, who told future Net Zero about the financial challenges that are commonly faced by companies as they work towards decarbonisation and explained how he and his team work to help businesses overcome these issues on their pathway to 2050.
He pointed out that 'going green' no longer just means carrying out relatively simple and affordable efficiency projects such as LED upgrades - some companies have all-encompassing net zero targets for 2030 that require dramatic and often costly action.
He highlights that a frequent obstacle is that the scale of capital required to decarbonise an entire business in a relatively short timeframe is unlikely to be found within the organisation - as a result, these companies are keen to deal with solutions providers who can help them access the finance they need.
Mr Rees said: "The ability for an organisation or for a corporate to finance that themselves is impossible really, it's not part of their core finance strategy. One of the things that organisations and corporates are really struggling to do is to work out how to finance those projects.
"It is a bit of a worry for people whose day job might be an energy manager where they've had to find £100,000 maybe for a lighting project but now they're faced with a multimillion-pound cost to help their organisation go through an energy transition in a very short space of time."
Listen to the full interview to find out more and discover how Centrica Business Solutions can help your business find the right route to capital for your decarbonisation journey.
