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Small firms unaware of net zero impact
Small firms unaware of net zero impact, says report
Though the vast majority see sustainability as important, millions of the small businesses could be struggling to understand and meet the demands of achieving net zero goals, according to research by Lloyds Bank.
According to new research, nine out of 10 SMEs (91 per cent) see sustainability as an important consideration, and almost half (45 per cent) say that the Covid-19 pandemic has made them think more about its role in their business.
However, just a third (36 per cent) of ‘nearmicrobusinesses’, which employ 10 to 19 employees, admitted to not being aware of the Government’s net zero commitment, whereas among the largest SMEs that figure falls to just a quarter (27 per cent).
So-called near-microbusinesses have limited understanding of how net zero policies will impact them.
Just a third, 33 per cent, understand its impact on them, compared to 76 per cent among the largest SMEs.
In 2019, legislation passed requiring the government to reduce UK net greenhouse gas (GHG) emissions by 100 per cent on 1990 levels by 2050. Achieving this will make the UK a ‘net zero’ emitter. Most SMEs say that they are aware of this commitment to ‘net zero’, with just one quarter (25 per cent) admitting they do not.
Glenn Bemment (pictured), head of ESG, SME and mid-corporates at Lloyds Bank, said: “The larger a business is the more likely they understand and grasp the opportunities that come from net zero.
“Their size affords them greater flexibility within their business model and workforce, greater choice and influence over suppliers, and can mean more customers and clients directly questioning their sustainability credentials.
“For the smallest of SMEs, many of which will be focused on their immediate needs and recovery from the impact of the pandemic, it’s important not to lose sight of the value they themselves recognise in sustainability. Demand from Government, customers, and suppliers to be ethical, and sustainable will only increase and eventually become expected rather than a unique selling point.
“The good thing is that there is still time for them to act, and there are many resources available to help them understand, plan and change their business for the better.”
Cash boost to transform theatre
Transforming: Funding boost will revitalise The REP’s public space (credit – Ross Jukes)
Birmingham Repertory Theatre (The REP) has received a £1.47m cash injection from the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) to transform and revitalise its public space.
Starting next month, the ‘Open House’ project at one of Birmingham’s iconic cultural institutions coincides with the theatre’s celebration of 50 years on Centenary Square.
The works are expected to be completed early in the New Year in time for the city’s cultural programme which is running in parallel with the Commonwealth Games and harnessing the once-ina-lifetime opportunity to put Birmingham and the West Midlands on the global sporting and cultural stage.
The GBSLEP’s funding from its Growing Places Fund will enable The REP to create new public spaces, with enhanced café and restaurant facilities. As a result of ‘Open House’ The REP will be able to generate additional revenue, which will be reinvested in making world-class theatre, delivering impactful education and community programmes and nurturing the next generation of artists and theatre-makers.
The REP’s executive director Rachael Thomas, said: "The GBSLEP’s funding will help us attract new audiences and income streams, allowing us to move towards a more sustainable and resilient future and play our part at such an important moment for the city and region.”
The REP’s 'Open House' is one of many projects that the GBSLEP has funded in the last 10 years.
Contract to restore canal
The Lapal Canal Trust has awarded Land & Water Services Ltd with a £300,000 contract as part of a canal restoration project.
The business will build the first Selly Oak section of the Dudley No2 Canal, known as the winding hole, to enable boats to turn and enter the restored canal.
It is the first stage of a fourpart plan to restore the canal passing Sainsbury’s in Selly Oak.
The Dudley No 2 Canal was built to carry coal from Dudley to London. Work started in 1794 and the route was opened in 1798.
The new section completes the development of Whitehouse Wharf and forms part of the Selly Oak Shopping Centre, owned by M & G Real Estate. The area includes a bridge linking the new shops to Selly Oak town centre, the remains of a lime kiln and a new public square.
Kevin Kirkland, construction director at Land & Water, said: “We are very much looking forward to working with the Lapal Canal Trust and getting started on building the first section of the Dudley No2 Canal and at Land & Water, we pride ourselves on maintaining and enhancing the UK’s waterways for years to come and this is a perfect example of how the canal can be used to benefit surrounding communities and boat lovers.”
On the dotted line Dr Andrew Hardle (top), chair of the Lapal Canal Trust, virtually signing the contract with Kevin Kirkland Contract to restore canal
