Small to medium enterprises (SMEs) account for 99.9% of all businesses in the private sector in the UK, with London accounting for 34% of the overall business population.
According to the Carbon Trust, the average SME generates around 15 tonnes of CO2 annually, making up 44% of the total UK non-household emissions. Despite their alarming contribution, research from Lloyds Bank found that over three-quarters (77%) of small businesses do not have any business strategy to reduce their carbon footprint in the next three years and a concerning 2.5 million business owners do not know what is meant by ‘net zero’.
To that end, the UK’s leading sustainability consultants, SaveMoneyCutCarbon (SMCC) have calculated how much CO2 the biggest startup hubs in the UK emit on a yearly basis and further, outline their six-step plan for businesses to accelerate their eco goals.
It was found in a recent report that the UK is falling behind on government pledges to reduce greenhouse gas emissions, significantly delaying our progress to meet net zero by 2050. While more than one-third (34%) of the world’s largest companies state being committed to Net Zero, nearly all (93%) are forecast to fail to achieve their goals if they don’t at least double the pace of emissions reduction by 2030, according to a new report from Accenture. Understanding the fundamental role that businesses play in the wider environmental goal and with research from SMCC showing that over 1-in-5 (22%) consumers are now only supporting companies with sustainability at the forefront of their operation, the sustainability consultants identify the top startup hubs in the nation and also within the capital to encourage the implementation of green operations.
Top startup hubs within the UK:
Edinburgh
Leeds
Manchester
Birmingham
Bristol
Top 5 areas in London for startups and SMEs:
Camden
Hackney
Islington
Shoreditch
Tottenham
SaveMoneyCutCarbon’s recent report identified a lack of stringent training and ESG procedures within UK businesses as just 18% of UK respondents agreed that sustainability is included in training packages at their place of work, with this disproportionately being true for city workers where 25% of Londoners agree with this sentiment.
