Benefits of Becoming a Net-zero Business

The UK’s annual Net Zero Week runs from 1-7 July, highlighting the importance of environmentally friendly business practices. Put simply, net zero means adding no more greenhouse gas emissions to the atmosphere than what is removed. Although taking steps towards net zero can seem daunting, businesses play an important role in helping the government achieve its target of net zero emissions by 2050. Besides, businesses currently account for 18% of all UK greenhouse gas emissions, according to a recent Office for National Statistics report. However, by taking steps to reduce your environment impact, your organisation can help the net-zero cause, Better still, you could realise significant benefits in the process. Consider the following benefits of becoming a net-zero business:

• Improved business reputation– As consumers become more climate-conscious, engaging in sustainable behaviours may boost your reputation and attract more business, increasing profitability. In fact 40% of consumers chose brand that had environmentally sustainable values and practices, according to a survey by professional services firm Deloitte. As such, publicizing any net-zero measures in marketing materials may generate consumer interest.

• Reduced costs– Although implementing operational changes may incur costs in the short-term, longer-term savings may be achieved through greener practices, particularly as they pertain to energy costs. But even small changes-such as turning off equipment overnight or swapping to renewable energy sources – could make a huge difference.

• Enhanced competitive edge – Currently, only 1 in 10 businesses measure their carbon footprint, according to a British Chambers of Commence survey. As such, embracing greener initiatives may keep your organization ahead of the competition. What’s more 57% of UK consumers don’t mind paying more for products that are good for the environment, according to a recent YouGov survey. Thus, improving your green credentials could position you to attract new customers and stay ahead of others in your sector.

• Bolstered business-resilience – Adopting net-zero practices may increase business against future disruptions. For instance, investments in alternative energy supplies-such as solar and wind-could shield your organization from unexpected energy cost increases going forward.

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