Thursday, February 1, 2024
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A significant shift towards sustainability was observed among small UK businesses in the past year.
According to Aldermore's Green SME Index, the number of SMEs formally committing to meet the government's net zero goals by 2050 doubled, rising from 220,000 at the start of 2023 to 489,000.
The lender’s Index also indicates that around two million SMEs are in the process of transitioning to net zero. However, the journey towards sustainability poses considerable challenges.
The criteria for B Corporation certification, which prioritises impact, are set to become more stringent. John Carter, commercial director for commercial real estate at Aldermore, acknowledged the tough macroeconomic environment for SMEs and startups, citing issues like supply chain disruptions, interest rate changes, skill and labour access, and increased UK-EU trade regulations. John added: “SMEs need government incentives to encourage them to make the necessary investments that will make a difference.”
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