Almost a third of small and medium firms in the U.K. have no plans to implement a sustainability strategy, despite a government commitment to achieving net-zero carbon emissions by 2050, according to new industry research.
A survey of 1,021 firms, conducted by YouGov for energy firm World Kinect Energy Services, found that while 40% of U.K. small and medium enterprises (SMEs) don’t yet have a sustainability plan in place, 30% don’t have any intention of adopting one.
Beverley Cornaby, senior programme manager for The Prince of Wales’s Corporate Leaders Group at the Cambridge Institute for Sustainability Leadership, told Forbes.com that firms which aren’t proactive on sustainability were in danger of being left behind.
“It is hard to imagine a business decision that won’t be affected by sustainability, to some extent,” Cornaby said. “Companies that build trust with their customers based on bona fide sustainability credentials are likely to be more resilient as a result.”
Making the business case for sustainability, Cornaby pointed out that emerging supply chain and investment rules will mean companies small and large will ultimately have to comply with sustainability requirements.
The article has been summarised and the original full article can be found at forbes.com