Businesses can play key role in climate action while reaping commercial rewards
Commenting on the sixth assessment report by the UN’s Intergovernmental Panel on Climate Change (IPCC), which was published on the 9 August, East Midlands Chamber has identified the important role businesses need to play in the sustainability agenda. It has also recognised that there are strong commercial benefits to adopting a greener and cleaner approach to doing business.
Chamber director of resources Lucy Robinson said: The report by the IPCC is a sobering reminder of how each and every one of us has a role to play in the fight against climate change, and this is particularly true of businesses – no matter what their shape, size or location.
“The Chamber launched the Sustainable East Midlands campaign last year to help more organisations in our region embrace the sustainability agenda after recognising how businesses account for 18% of the UK’s emissions.
“The good news is we are moving in the right direction. Our latest research, conducted in partnership with the University of Derby, shows the proportion of East Midlands companies that derive turnover from supplying pro-environmental goods or services has increased from 16% in 2015 to 37% in 2021. Even in the past year, we’ve seen a 7% rise in the number of firms that have integrated clean growth into their business strategies – now at 36% of businesses.
“We still need to do more though, particularly in supporting SMEs to adopt a sustainable growth strategy. While the latest IPCC research illustrates how reducing our carbon emissions is clearly the right thing to do if we are to avoid the worst effects of climate change, there are also strong commercial benefits to adopting a greener and cleaner approach to doing business.
“Just like the automotive industry is now beginning to shift from petrol and diesel to building electric cars because it has identified the direction of the market, engaging with sustainability will make our business community more competitive in the long term – whether it’s in securing public sector contracts, cutting operating costs or offering innovations that help solve climate challenges.
“It will ultimately also make the East Midlands more competitive as a region, but it also plays into our strengths as we have all the pieces of the sustainability jigsaw – the high energy users in manufacturing, the energy producers in our coal field heritage, and new hi-tech businesses coming out of our world-leading universities.”
For more information on the support available to East Midlands businesses in adopting sustainable practices, visit www.emc-dnl.co.uk/sustainability.
East Midlands Chamber will host the East Midlands Sustainability Summit in partnership with the University of Derby on 23 September. For more details, click here.
