The Benefits of Decarbonisation
According to the Collins English Dictionary, decarbonisation is: “the process of reducing and removing carbon dioxide (CO2) output from a country's economy”. To achieve this, the emissions from fossil fuels must be reduced and the energy mix transition to low carbon energy sources accelerated. The ultimate goal is to eliminate CO2 emissions altogether and achieve net-zero.
Alongside the core objective of playing your part in reducing the effects of climate change, decarbonisation should also be considered a business opportunity. Benefits of decarbonisation include:
- 1. Staff Retention & Talent Acquisition Research suggests 2 in 3 people are more likely to work for a company with strong environmental policies.
- 2. Climate-Conscious Consumers 66% of consumers confirm they will stay loyal to a company committed to reducing its carbon footprint.
- 3. Maximise Investment Opportunity 80% of investors now consider ESG when making investment decisions
- 4. Green Brand Equity 79% of corporate executives observed strengthened brand reputation after their companies committed to decarbonisation.
- 5. Better Interest Rates & Terms Research by the British Business Bank suggests 11% of SMEs have accessed external finance to support net-zero actions, availing of reduced-rate green loans
- 6. Future Security & Resilience Identify solutions to minimise risk - green energy, and increased reliance on local supply chains.
- 7. Carbon & Energy Efficiency = Cost Savings For example for a carbonfit, Heavy Manufacturing client we identified 66% carbon reduction and potential savings of £500k, direct to the bottom line.
- 8. Competitive Advantage Results from a recent British Chamber of Commerce survey - only 11% of respondents measured their carbon footprint, get ahead & gain an advantage.
- 9. Avoid Penalties & Fines The legislation around carbon disclosures is growing at an exponential rate, each incurring fines & penalties for non-compliance. For example, failing to comply with SECR can lead to fines of up to £40k.
- 10. STOP Climate Change! Review potential circular activities of your product or service offering. Remember to Innovate – are there any technologies within next 10 years which are viable which could be deployed within your long-term Net Zero Plan?
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