Green growth

Regional Green Growth triples in 9 years, says new study

Green Growth activity – environmentally sustainable economic growth – from businesses in the East Midlands is three times higher than it was in 2015.

That is according to joint research published by East Midlands Chamber and the University of Derby.

Green Growth Trends research published this week by the two organisations tracks and analyses awareness and engagement with green growth, decarbonisation, and the uptake of nature-based solutions (NBS), based on responses from businesses in the Chamber’s Quarterly Economic Survey.

Findings for 2024 reveal a 7% increase from 2023 in East Midlands businesses achieving turnover from the supply of green goods and services, while more than 45% businesses in the region invested in decarbonisation initiatives over the past 12 months, an increase of 6% since 2023.

The research highlights significant difference in Green Growth activity based on the size of a business. Three quarters of large businesses in the East Midlands pursue Green Growth activities but only half of small businesses do, while for micro businesses the figure drops to four out of ten.

Key findings from Green Growth Trends in the East Midlands 2024

  • 7% more businesses derive turnover from the supply of Green Growth goods and services than in 2023
  • 43% of businesses trade in environmentally friendly goods and services
  • Three quarters of large businesses pursue Green Growth, half of small and four out of ten (39%) micro businesses
  • More than 45% businesses invested in decarbonisation initiatives over the past 12 months, up 6% since 2023
  • Seven out of ten large companies invest in decarbonisation
  • Just over 30% of businesses have never engaged in nature-based solutions over the last 12 months
  • Three in ten businesses have no turnover for green goods and services, 10% lower than in 2023

East Midlands Chamber Director of Policy and Insight Richard Blackmore said:

“With COP29 just behind us, the publishing of this report is timely and gives assurance, on one hand that East Midlands businesses are prioritising playing their part in the journey toward Net Zero, while also highlighting how much further they still need to go.

“Smaller businesses tend to be behind larger businesses, according to the findings of this research, where fewer staff and more limited resources may create a greater challenge, but it’s important that firms keep going with that mission toward becoming more sustainable and reducing their carbon footprint.”

Derby Business School Associate Professor of Strategy and Sustainability Dr Polina Baranova said:

“Seeing a 7% lift in East Midlands businesses benefiting financially by actively pursuing Green Growth is really encouraging, especially as there’s limited support nationally for businesses on their Green Growth journey.

“Larger businesses are well on their way, but micro businesses are lagging behind with just four out of ten embracing Green Growth. It’s important that businesses resist ‘climate fatigue’ and don’t pull back from their effort to embrace and gain from Green Growth.

“With 10% fewer businesses engaged in Green Growth than in 2023, the need to keep Green Growth high up the list of priorities is clearly underlined.”

To view the full Green Growth Trends in the East Midlands report for 2024 click here.

Want support to make your business grow sustainably? Find out more at: https://www.chesterfield.co.uk/business/business-support/

East Midlands Chamber and University of Derby support the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

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Funding scheme for green innovation scoops national award

A programme that supports organisations to develop green energy and carbon reduction schemes in Derbyshire has won a category at this year’s Innovation Awards.

The Green Entrepreneurs Programme, a partnership between the University of Derby and Derbyshire County Council, is a £2 million grant fund open to individuals and organisations based in the county looking to invest in and develop projects that support the drive towards the UK’s target of net zero carbon by 2050.

The programme team picked up the Sustainability Innovation Champion – Organisation category at the Innovation Awards, organised by the Technology Supply Chain, a membership organisation that connects UK innovative manufacturing, engineering and technology companies to grants, funded support and new opportunities. The awards recognise, reward and celebrate the companies, individuals and organisations dedicated to innovation. The national awards ceremonies attract thousands of entries from across the UK and beyond in four main categories: innovators, individual innovators, innovation champions and innovation thought leaders.

Mark Wheddon, Head of Delivery, Innovation and Research at the University of Derby, said: “We are delighted to win this award in recognition of our partnership with Derbyshire County Council that supports so many innovative projects in the county as we move towards net zero carbon. It is inspiring to see the resourcefulness and creativity of individuals and organisations here in Derbyshire, and it is rewarding to be able to contribute towards initiatives that are making a real difference to our sustainable future.”

Councillor Tony King, Derbyshire County Council’s Cabinet Member for Clean Growth and Regeneration, said: “We recognise the contribution our business community can make towards meeting our target of becoming a net zero county by 2050.

“We’re proud that through the Green Entrepreneurs Programme and our partnership with the University of Derby, we’ve been able to support local firms to develop green energy and cut carbon emissions as part of our net-zero ambitions.”

Dr Richard Fallon, CEO of the Technology Supply Chain, added: “The Innovation Awards recognise, celebrate and reward innovation across the UK and internationally. Our winners are considered best-in-class and it is a pleasure to celebrate their achievements. This is a great win for the work done by the University of Derby in supporting SMEs in their region with much needed green innovation.”

Find out more about the Green Entrepreneurs Programme. To find out about the latest support for businesses in Chesterfield, go to: https://www.chesterfield.co.uk/business/business-support/

The University of Derby supports the marketing and economic growth of the town through Chesterfield Champions, a network of over 200 organisations across Chesterfield and North Derbyshire.

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Funding secured for new renewable energy battery storage facility in Chesterfield

Chesterfield has been named as one of the areas to benefit from investment in a battery storage facility, adding to the town’s green growth.

Santander UK has provided a £27m funding package to 4 Renewable Energy, the independent power producer (IPP) arm of RGREEN INVEST, an independent French investment management company specialised in equity investments and financing for energy transition and climate change adaptation infrastructure projects. The funding supports construction and operations of four new-build battery storage facilities in England that 4 Renewable Energy acquired last year.

The new local facility will be based on Back Lane in Chesterfield, with facilities also being built in Rochdale, Plymoth and Bexhill on Sea.

Battery storage is key to ensuring the UK’s homes and businesses can be powered by renewable energy. It plays an important role in boosting the nation’s capability to capture, store and release renewable energy, providing a more reliable and regular supply.

Owned 100% by RGREEN INVEST’s INFRAGREEN IV fund, 4 Renewable Energy has plans to expand its UK portfolio beyond its first four battery storage facilities. It is actively pursuing additional battery storage projects under development or ready-to-build in the UK and is establishing a local team.

RGREEN INVEST’s managed entities have invested in more than 1,500 renewable energy projects to date and in large battery storage facilities in France – on the mainland and overseas. 4 Renewable Energy has wind, solar and battery storage projects under development and construction in Spain, Bulgaria, Portugal, Romania and Poland. Its portfolio of renewable energy projects totals more than 1.5 GW.

Since the start of 2019, Santander UK has committed more than £250m to the battery storage sector. This funding is part of Santander’s global target to lend €120bn in green finance to businesses throughout the world by 2025. The funding package provided to 4 Renewable Energy was partly financed by Santander UK’s Environmental and Social Growth Fund, which is designed to support lending that benefits the environment or society and contributes toward the UK’s sustainability agenda.

Sébastien Rondel, Head of Direct Investment for RGREEN INVEST and Director of 4 Renewable Energy, said: “This is our first venture into the UK market, and we are excited to be an active player. Our banking partner, Santander UK, has greatly supported this venture and is helping us pursue our strategic development abroad. Our choice of the UK is significant as the nation has made an ambitious decision to accelerate its transition to renewable energy sources, and battery systems are poised to become a key component of this strategy’s success.”

Mark Cumbo, Director, Specialised and Project Finance at Santander UK said: “We are delighted to support RGREEN INVEST’s entry into the UK renewables market with funding for the construction of its four battery storage facilities. Santander UK strongly supports clients such as RGREEN INVEST that are bringing positive environmental change to the UK’s energy sector, and we are delighted to provide funding for these new battery storage facilities throughout England.”

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Energy Summit finds huge opportunity for East Midlands to develop new supply chains in low-carbon economy

The Midlands should seek to become a hotbed for emerging supply chains in the low-carbon economy, while end users must be front and centre of our new energy systems.

These were two of the key findings at the Midlands Energy Summit, held by East Midlands Chamber in partnership with the University of Nottingham earlier this week.

Reflecting on the outcomes of COP26 and wider trends in the energy industry, including continuing price increases, it featured keynote speeches and discussions involving companies such as Siemens Energy, Cavendish Nuclear and Consultus International Group.

Chris Hobson, director of policy and external affairs at East Midlands Chamber, said: “What is becoming increasingly apparent is the huge scale of the challenge we face globally, and how a shift in mindset is required now to address this because we need to travel further, faster.

“Rather than this being a daunting prospect though, there are equally significant opportunities at a localised level, particularly in supply chains. The East Midlands, with our energy-intensive manufacturing heritage and world-leading universities, is already at the cutting edge of many future technologies that will guide the energy transition. We now want SMEs to understand that they have a key role to play in the emerging supply chains being built in our region.

“Beyond supply chains, new industries will grow in the space between existing ones. We need to be ready to take advantage of this, while also recognising that taking a user-centric approach is key to bringing people along with us on this journey – viewing our energy consumers as part of the solution, rather than a barrier to change.”

The Midlands Energy Summit, held online on Tuesday (30 November), featured a keynote speech from University of Nottingham vice-chancellor Professor Shearer West. She explained how its Energy Institute is addressing three key societal challenges – energy generation and management, transport and mobility, and communities and the built environment – via a series of sustainable energy research projects.

She said: “Energy is absolutely vital for our survival but our existing energy systems present an existential threat.

“In COP26, we saw a lot about the interconnections between energy and climate change. The transition to net zero relies on a deep thinking for our energy system – not just the technologies we use but our expectations and behaviours.”

There were also presentations about the Midlands Engine’s Ten Point Plan for Green Growth in the Midlands Engine and its work in developing hydrogen technologies, as well as a talk by Cavendish Nuclear’s Michael Dunnett on the growing importance of small modular reactors in making nuclear energy supplies more flexible for industry.

Steve Atkins, head of global trades at Leicester-based energy consultancy Consultus International Group, explained about how a cold winter could cause another spike in gas prices due to relatively low resources, while more investment in zero-carbon energy infrastructure was key to unlocking subsidy-free renewables in the future.

Stephen Scrimshaw, vice-president of Siemens Energy UK & Ireland, focused on how Britain should adopt a “twin track approach” to developing blue and green hydrogen – and, just as importantly, the infrastructure behind it – as part of its net zero strategy.

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