• Home
  • News
  • In-depth
  • Opinion
  • Energy
    • Wind
    • Marine
    • Solar
    • Biomass
    • Nuclear
    • CCS
    • Infrastructure
  • Policy
    • Politics
    • Legislation
    • Taxation
  • Management
    • Marketing
    • Risk
    • Skills
    • Incentives
    • Carbon Accounting
  • Technology
    • Waste
    • Recycling
    • R&D
    • Efficiency
    • IT
  • Investment
    • Carbon Trading
    • Offsets
    • Venture Capital
  • Net Zero Now
  • Events & Awards
  • Net Zero Festival
  • Industry Voice
  • Newsletters
  • Sign in
  •  
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
    • You are currently accessing BusinessGreen via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0) 1858 438800

      Email: [email protected]

      • Sign in
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • Facebook
    • YouTube
    • Instagram
  • Free Trial
  • Subscribe
  • Events & Awards
    • Upcoming events
      event logo
      BusinessGreen Technology & Investment Forum 2021

      Investors and sustainable tech firms are invited to sign up to BusinessGreen's Tech & Investment Forum to explore the investment opportunities offered by the UK's fast expanding green economy.

      • Date: 12 May 2021
      • Online Event
      event logo
      NZF Pathway - Nature 2021

      Net Zero Nature brings together global experts, business leaders, NGO’s and innovators to explore why protecting and restoring nature is fundamental to global economic prosperity, investigate the transformative changes businesses must make now to avoid extinction, and consider best practices and latest developments. Register now to secure your place for a unique day of learning, leadership and practical insight.

      • Date: 27 May 2021
      • Online Event
      event logo
      BusinessGreen Leaders Awards 2021

      From blue chips and start-ups to cutting edge clean tech providers and transforming incumbents, the Awards will honour the very best of UK green business, offering a unique opportunity for the environmental business community to join together to celebrate their many successes and collaborate on the next phase of the net zero transition.

      • Date: 22 Sep 2021
      • Virtual Event, Worldwide
      event logo
      Net Zero Festival 2021

      Net Zero Festival is the world's first business festival dedicated to exploring, advancing, and celebrating the global transition to a net zero emission economy. Join us at BusinessGreen's Net Zero Festival – for leaders who won't wait until 2050 to build a better business, and a better world.

      • Date: 29 Sep 2021
      • Worldwide
      View all events
  • Net Zero Festival
Business Green
Business Green
  • Home
  • News
  • In-depth
  • Opinion
  • Energy
  • Policy
  • Management
  • Technology
  • Investment
  • Net Zero Now
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
  • You are currently accessing BusinessGreen via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0) 1858 438800

    Email: [email protected]

    • Sign in
  • Hot topics
  • Hydrogen
  • Green jobs & skills
  • Net Zero Nature
  • Technology & Investment Forum
Bgnzf20 1125 125 leadership rebbon
  • Investment

'Extremely encouraging': Why three-quarters of UK firms are now plotting net zero goals in 2021

Growing numbers of companies now have net zero on their agenda, the poll findings suggest
Growing numbers of companies now have net zero on their agenda, the poll findings suggest
  • Michael Holder
  • Michael Holder
  • @MichaelHolder
  • 17 December 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

HSBC poll of 1,000 UK businesses indicates operational and supply chain net zero targets are heading into the mainstream

A major survey of UK firms has found almost three-quarters of businesses plan to introduce net zero emissions goals covering their own operations and supply chains over the next year, as climate-aligned business strategies head into the mainstream, according to banking giant HSBC.

The bank, which surveyed more than 10,000 businesses in 39 markets, including 1,000 in the UK, found 73 per cent of UK respondents  plan to introduce new net zero goals, while 78 per cent expect sales to grow over the next year as a result of increased focus on sustainability.

Related articles

  • Inside the net zero target bonanza: Why the 'decade of transition' will require stronger climate targets
  • Falling out of fashion: How growing environmental concerns could jeapordise the future of the fast fashion sector
  • Will the covid crisis herald the end for the age of the business flight?
  • Global Briefing: Triptych of alarming reports offer stark update on scale of climate and biodiversity crisis

A similar proportion - 75 per cent - of UK businesses also now have metrics in place to measure environmental sustainability, up from 62 per cent last year, putting them in a stronger position to implement ambitious net zero emission strategies, the survey suggests.

That includes 28 per cent of firms measuring energy usage, 21 per cent measuring carbon emissions, and 20 per cent measuring packaging materials and waste, according to the survey.

Rob King, HSBC UK head of sustainable finance, said the survey results were "extremely encouraging" off the back of a tough year for business in the wake of the Covid-19 pandemic, as they suggest firms have the 'green recovery' agenda at the forefront of their plans for 2021.

"The report tells us that firms genuinely want to build back better and have sustainability and the move to a net zero economy right at the top of their priority lists as they look to adapt their operations to the 'new normal'," he said. "We see consumers having increasing expectations when it comes to sustainability and the companies they engage with and this greater focus on sustainability by businesses will help them to build their reputations and make better connections to their customers."

However, many of the respondents maintained that the government has a key role to play in accelerating and supporting the green agenda among businesses. More than two-fifths - 42 per cent - of firms said government incentives would help them to become more sustainable in future, while 31 per cent highlighted workforce engagement or initiatives, and 29 per cent pointed to green finance as mechanisms for unlocking more rapid progress.

As such, King said there was "still work to do", highlighting the need for greater policy detail from the government in 2021 to build on Prime Minister Boris Johnson's recently unveiled Ten Point Plan for a Green Industrial Revolution, which promised to deliver around £12bn of public investment in the green economy as well as a raft of new policy interventions that are expected to be finalised over the coming year and beyond.

"The government announced its Green Industrial Revolution plan last month and our research suggests that firms will need further support and incentives as they strive to reach these lofty goals," King said. "With the right support and incentives UK businesses can deliver on their targets and achieve their sustainability ambitions, making a difference to their employees, customers and the global society."

Corporate engagement with the net zero transition has never been higher, but the big question remains as to how fast businesses can turn their goals into action.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Investment
  • Management
  • HSBC
  • Net Zero Now
  • survey
  • leadership

More on Investment

    • Management
BusinessGreen Leaders Awards returns for 2021
    • Management
    • 14 April 2021
Wind farms in the UK are getting larger, with Equinor’s planned Dogger Bank project set to have the same capacity as Hinkley Point C | Credit: Equinor
    • Wind
Europe's wind sector weathers pandemic with €43bn investment in 2020
    • Wind
    • 14 April 2021
The climate impact of beef and dairy farming has come in for increasing scrutiny in recent years
    • Offsets
CowCredits: Mootral aims to cut cattle burps through carbon offset offer
    • Offsets
    • 14 April 2021
    • Investment
Major investors call for 'temperature scores' to gauge funds' climate performance
    • Investment
    • 14 April 2021
A power plant in Jilin Dalu, China | Credit: Andreas Felske
    • Investment
Inside the net zero target bonanza: Why the 'decade of transition' will require stronger climate targets
    • Investment
    • 13 April 2021
    • Investment
BlackRock and Temasek announce multi-billion dollar climate tech venture capital push
    • Investment
    • 13 April 2021
Bianca Wong, Kingspan global head of sustainability / Credit: Kingspan
    • Supply chain
Kingspan targets net zero carbon manufacturing by 2030
    • Supply chain
    • 13 April 2021
Credit: EnergyNest
    • Technology
Warming up: EnergyNest secures €110m investment boost for thermal battery vision
    • Technology
    • 12 April 2021

More news

COP26: The current state of play
  • Climate change
COP26: The current state of play

With the status of the Glasgow Summit up in the air, Alok Sharma has set out his 'wish list' for crucial Paris Agreement climate negotiations in 2021

  • 14 April 2021
BusinessGreen Leaders Awards returns for 2021
  • Management
BusinessGreen Leaders Awards returns for 2021

UK's largest and most prestigious green business awards is set to return this September as part of the Net Zero Festival

  • 14 April 2021
Aldi debuts packaging-free products trial
  • Recycling
Aldi debuts packaging-free products trial

Supermarket becomes latest retailer to explore the potential for packaging-free groceries

  • 14 April 2021
Future Buildings Standard: Building professionals and green NGOs slam 'significant shortcomings'
  • Buildings
Future Buildings Standard: Building professionals and green NGOs slam 'significant shortcomings'

21 organisations call for new National Retrofit Strategy in letter to top civil servant at housing ministry, warning current standards lack 'vision and ambition’

  • 14 April 2021
blog comments powered by Disqus
Back to Top

Most read

Crypto Climate Accord: UN-backed plan targets net zero digital currencies by 2040
Crypto Climate Accord: UN-backed plan targets net zero digital currencies by 2040
'A truly momentous occasion for glass': Diageo produces glass whisky bottles in waste-powered furnaces
'A truly momentous occasion for glass': Diageo produces glass whisky bottles in waste-powered furnaces
'Tipping point': Study reveals electric trucks are 'very close' to challenging diesel vehicles
'Tipping point': Study reveals electric trucks are 'very close' to challenging diesel vehicles
Will the covid crisis herald the end for the age of the business flight?
Will the covid crisis herald the end for the age of the business flight?
'World first': SSE and Equinor plot major blue hydrogen power plant in Scunthorpe
'World first': SSE and Equinor plot major blue hydrogen power plant in Scunthorpe
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • Facebook
  • YouTube
  • Instagram

Incisive Footer Logo

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading