How adopting sustainable changes can support business growth

How adopting sustainable changes can support business growth

11th February 2022, 1:12 pm

Now is the time to turn our ambitious green plans into action. Martyn Kendrick explains how businesses of all sizes have a significant role to play in helping to drive down the country’s carbon footprint.

The good news is that we know there are significant opportunities for growth across the region. New research from Lloyds Bank shows that the North is set to create 80,000 job opportunities in offshore wind, carbon capture, storage and usage.

Below, Martyn outlines some useful top tips and advice on how businesses across the North West can reduce their carbon footprint while taking advantage of the support available to them.

  • Know where to start?: Discovering how sustainable your business already is, and what changes need to be made doesn’t have to be an onerous task. Our Green Buildings Tools are available to help companies evaluate and understand how potential investments might make properties and facilities more energy efficient. Using these tools can provide insight that’ll help your firm define a sustainability strategy, reduce energy costs by applying suggested energy-efficient measures, and prioritise investment within the business to deliver against green goals.
  • Seek support: At Lloyds Bank, we’ve been helping SMEs in the region to realise their green ambitions and make a positive contribution towards the government’s net zero goals through various programmes. For example, our Clean Growth Finance Initiative (CGFI), makes a significant difference for many firms by helping them access discounted lending for sustainable investments. From improved insulation to more energy efficient recycling systems, to more advanced energy technology adoption, we’re here to help firms at any stage of their sustainability journey.
  • ‘Drive’ a green agenda: If your business relies on regular transport services or specialises in offering haulage services, it might be worth exploring a transition to lower emission vehicles. Our Green Vehicle fleet support via our partners, Lex Autolease, can help businesses decide on the right plan for its future. Some of the benefits of going green include reducing fuel consumption and lower service & maintenance costs.

Our teams are on hand to help you decide what’s best – whether it’s a pure battery electric vehicle for city driving, or a lower CO2 option for high mileage motorway.

  • Use the size of your business to your benefit: SMEs are well placed to benefit from a green transition as their size allows them to make decisions quickly – whether that’s to change suppliers, or launch products and services to meet customer demands. Firms should take advantage of this agility by listening to what their customers want and from there, adapt a plan that builds an inclusive and sustainable growth strategy to suit.
  • The green transition isn’t a “one-size-fits-all” approach: One of the most important takeaways is to remind ourselves that there isn’t one solution that will work for every business. Some companies, like those in manufacturing, might have to adapt and use cleaner processes to reduce their impact on the planet. For others, it might be a case of scaling up to produce more clean energy or reviewing your waste. Take the time to consider what your business is currently doing, what it could do, and then seek support.

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