Home Business News Businesses shouldn’t be worried about the cost of going net zero as they ‘can make savings’

Businesses shouldn’t be worried about the cost of going net zero as they ‘can make savings’

by LLB Finance Reporter
1st Nov 21 2:20 pm

Businesses worried about the cost of going net zero should see the COP26 climate conference as a starting point towards an achievable goal.

The advice came as businesses were expecting to incorporate more policies and regulations into their working practice as a result of the crucial meeting of world leaders in Glasgow.

Many SMEs have already expressed concern about the costs of taking on new targets. While large corporations can move money around, smaller outfits do not have the same financial flexibility.

James Ward, CEO of compareyourbusinesscosts.co.uk, believes that companies can start now to embrace Environmental, Social, and Governance (ESG) policies while making savings on a wide range of green services.

He said, “Britain’s small businesses do not have to be priced out of going green. In fact, they might even be able to reduce some costs, if they know where to look for the best deals.

“The growing customer demand for green products and services means that there is actually an opportunity here to gain a competitive advantage by embracing environmental policies.”

Ward points to such things as commercial waste collection, which can be a significant cost for businesses. There is now more emphasis on taking full responsibility for where this waste ends up, to prevent environmental pollution.

Businesses should also find the best price for cloud storage of data, Mr Ward advised. This is not only cost-saving and more efficient, it helps tackle the growing problem of emissions from traditional data centres, which account for as much CO2 pollution as the airline industry.

Companies also must be aware that climate-related financial disclosure will be mandatory by 2025.

Many businesses are choosing to offset their carbon emissions by teaming up with organisations that plant trees around the world for every sale made.

Ward’s company is one such example, linking up with Ecologi, which has already planted 21 million trees, including at three projects in the UK.

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