We’ve launched our 2022 Springboard to Sustainable Recovery report. Take a look at the report’s key insights and read the full report (PDF 8658KB) for more.
Key insights - 2022 Springboard to Sustainable Recovery
- The UK needs 40,000 new SMEs in key sectors between now and 2030, if the country is to meet its net zero ambitions
- With the right support SMEs could contribute up to 50% of UK 2030 emission targets through pursuing decarbonisation.
- UK economy could benefit from a potential £175billion revenue opportunity by 2030, with over 260,000 new jobs created in the process, as it aims to meet world-leading decarbonisation and emissions targets.
- These targets offer an opportunity for UK businesses to access other markets with their low-carbon goods and services, with the investment required to decarbonise Europe in the next ten years around five times that required in the UK.
- Top four actions businesses can take are insulating, solar, electric vehicle adoption and low-carbon power that could generate savings of £12,000 per year*
* Based on a mid-size restaurant with 60 employees that owns its own premises, Springboard to Sustainability Report page 24.
Our CEO Alison Rose said:
“The imperative to tackle climate change – still the biggest single issue facing humanity – is more pressing than ever. But in the context of a turbulent macroeconomic environment, with the prospect of a recession in the UK, and the increase cost of living due to rising prices, SMEs face tighter cash flows and fears for the future of their business.
“Yet against this backdrop, we find that SMEs in the UK are well placed and pivotal to drive the next decade of decarbonisation in the UK, and to harness growing revenue opportunities. This creates opportunities for business of all shapes and sizes, and at NatWest we will do everything we can to help businesses access that opportunity.”
Lord Nicholas Stern said:
“It is now common cause that the drive to a net zero economy will take strong, internationally co-ordinated investment. A step-up in finance is absolutely crucial to speed up action and deliver the goals of the Paris Agreement. Every government and business globally should be focussed on the investments and innovation required to reach net zero as quickly as possible.
“There are big opportunities for SMEs to break into other markets with low-carbon offerings and to make their mark the larger decarbonisation challenge. The additional revenue that could be unlocked, both locally and abroad, for SMEs could not only create jobs, but also grow the whole UK economy and contribute to the development of historically underdeveloped nations.”
