The research by npower Business Solutions (nBS) saw it consult with 60 organisations across a variety of sectors including manufacturing, professional services and the public sector, on what they would like to see included in the economic recovery plan.
An overwhelming 93 percent said that aligning with the UK’s net zero by 2050 target should be a key factor in the government’s recovery proposals, and a significant proportion also believed that a more sustainable recovery also meant a more resilient future, with eight out of 10 businesses agreeing with the statement that ‘maintaining a focus on sustainability and net zero will stand our business in good stead for a quicker recovery post-COVID-19’.
As such, when asked where they believed the most government support should be directed, over 85 percent of respondents said they felt that businesses with a strong commitment to sustainability should be prioritised for post-COVID government support, and that investment should be primarily directed to those in energy intensive sectors like manufacturing.
Wayne Mitchell, Director of npower Business Solutions Energy HQ, comments: “This research supports what many commentators have already been saying - including experts we recently spoke to for our own report, The Future Report 2020: The road to Net Zero - that a green recovery is not only desirable, it is necessary to secure a robust economic and sustainable future. Whether the Chancellor’s initial announcement goes far enough, remains to be seen.
“Pre-pandemic, we were seeing the emergence of net zero as a compelling need for all, and over the past 12 months, we have worked with customers on the net zero agenda and making it a reality - particularly in the public sector and increasingly into the private sector.
“It also 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.”
The research also asked respondents where they believe investment is needed most to achieve a successful green recovery, and aid the net zero transition. Nearly two-thirds (62 percent) said that the government should announce new grants or incentives for businesses to implement sustainability measures. In addition, 50 percent felt there should be investment in existing renewable technologies such as EVs, solar PV or wind, while 40 percent felt that newer technologies such as carbon capture and storage (CCS) and hydrogen should receive an investment boost.
Wayne Mitchell concludes: “In terms of what has been done to date, we have seen encouraging moves, with the recent commitment to the first phase of the Industrial Energy Transformation Fund, and plans for the net zero industrial cluster in the Humber gathering pace. CCS, renewables, hydrogen and EVs were all also highlighted as crucial technologies for a net zero future by the experts in The Future Report 2020: The road to Net Zero.
“However, the recent Committee on Climate Change progress report concluded that the UK had not yet gone far enough since net zero was written into UK law a year ago, so more needs to be done.
“As we look to 2050, a green recovery and policy clarity is what businesses are calling for. And, to play their part, energy efficiency, on-site generation, procuring green energy, reducing and shifting demand will all become more important.”
The full findings can be found here http://www.energy-hq.co.uk/greenrecovery
