Half of smaller businesses in South East don’t understand ‘carbon jargon’
THE majority of smaller businesses in the South East don’t understand how common environmental terms such as ‘decarbonisation’, ‘net zero’ and ‘zero carbon’ apply to their businesses, according to research commissioned by the British Business Bank.
The Opinium survey of senior decision makers in smaller businesses in the South East found just over half (56 per cent) believe the language, terminology and information around emissions reduction is overcomplex.
The survey found nearly three in five (68 per cent) want advice on measuring their business’ carbon footprint and more than half (53 per cent) want information to help them assess whether reducing their carbon emissions make financial sense for this business.
The British Business Bank’s #GreenToGrow campaign aims to demystify and alert smaller businesses to the commercial benefits of investing in decarbonisation.
Resources include a new ‘Green Decoder’, an online guide co-created with Nottingham Business School, Nottingham Trent University to help smaller businesses decipher the terminology surrounding decarbonisation.
The British Business Bank’s online Finance Hub also provides a series of guides and information about sustainability issues and how smaller businesses can start their journey towards net zero.
‘Carbon jargon’ terms not
understood in the South East include:
1. Greenhouse gas emissions: 86 per cent of smaller businesses do not have a full understanding of the term and what it means for their business
2. Science-based targets to reduce carbon emissions: 86 per cent
3. Decarbonisation: 82 per cent
4. Net zero: 80 per cent 5. Zero Carbon: 77 per cent British Business Bank UK network director, South and East of England, Steve Conibear said: “Smaller businesses are far too often put off by the overcomplex ‘carbon jargon’ that comes with reducing emissions.
“By helping decipher some of the terminology around decarbonisation the British Business Bank hopes to show smaller businesses that simple, incremental changes, such as switching off equipment when not in use, can make a difference in their net zero transition.
“This will become an increasingly important businesses requirement.
“Given that many consumers now consider sustainability when they make a purchase, by becoming greener, smaller businesses can enhance their competitive edge and expand their customer base.
“Our new mission at the bank is to continue to drive sustainable growth across the UK, and to enable the transition to a net zero economy, by improving access to finance for smaller businesses.
“This new #GreenToGrow campaign will help more businesses in the South East find the information they need to move toward transition.”
The British Business Bank’s ‘Smaller businesses and the transition to net zero’ report, published in October 2021, found that smaller businesses account for half (50 per cent) of total emissions from UK businesses.
Two in five (42 per cent) of those based in the South East believe, however, that a reduction in their carbon emissions will not make a significant difference to the environment and 66 per cent believe that large corporations are responsible for most of the business carbon emissions in the UK.