Half of UK’s small and medium-sized businesses anticipated to invest in sustainability in 2023

New data from Time Finance has shown UK’s small and medium-sized enterprises (SMEs) are anticipated to invest to cut their carbon emissions in line with the Government’s 2050 Net Zero targets.

Exploring the financial support businesses will need to achieve their sustainability ambitions, the survey found that 50 per cent said that businesses will invest more time and money into a greener strategy following COP27 and its stark reminders of the fight against climate change.

Time Finance is sharing its data ahead of the anticipated announcement from the Department for Business, Energy and Industrial Strategy (BEIS) detailing the outcomes of its Net Zero Review, the results of which are expected to give businesses clearer direction on their path to Net Zero.

Ed Rimmer, CEO at Time Finance, said: “The role of alternative finance is to understand and facilitate the growth ambitions of businesses, to work with them to ensure they have access to the most beneficial forms of finance to enable investment.”

“We can clearly see that businesses have a strong commitment to the sustainability agenda, made all the more pressing following COP27. What we need to do now is ensure that businesses have access to the finance they need to bring these plans to life.”

Despite the widespread ambition amongst businesses to improve sustainability, the survey also found that more than 40 per cent of those surveyed believe affordability will be a barrier to green investment.

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Written by

Anna Ellis

Originally from the UK, Anna is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]