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Understanding the impact of Net Zero
The From Now to Net Zero report showed that while 89% of SMEs recognised that sustainability is an important issue for their business, 40% did not know what it means for their business in practical terms. However, general knowledge around the subject seems to be growing, with our Net Zero Monitor revealing that 95% of SMEs are now aware of the government’s 2050 Net Zero target.
Of course, awareness is futile without action, and a realistic plan is vital. And at the time of writing, 39% of SMEs surveyed have set a tangible target and a deadline to get to Net Zero, while 24% have set a target without a deadline. In contrast, just 7% said they have not set a target, and have not yet started research on what they need to do to reach Net Zero.
While the core actions on the journey remain the same, SMEs are prioritizing them differently. Recycling and reducing waste are currently the top activity undertaken by SMEs – with 62% having already taken these initiatives. Elsewhere, 60% are actively reducing their energy consumption and 36% are sourcing renewable energy as well.
In terms of sector activity, of the SMEs surveyed within the manufacturing sector, 79% said the rising cost of energy has had the most negative impact, while 74% of the real estate and housing sector cite rising inflation.
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