Lloyds survey finds firms trying to be more sustainable

Greater than half of small or medium companies within the East are nonetheless focussed on turning into extra environmentally sustainable regardless of the Covid-19 pandemic, based on a brand new survey.

The Lloyds Financial institution Industrial Banking’s Enterprise Barometer discovered that turning into extra environmentally sustainable was essential to 53pc of corporations – only one level fewer than the proportion which mentioned the identical in 2019.

Of the small or medium enterprises (SMEs) surveyed, 54pc mentioned they’d nonetheless actively labored to turn into greener in 2020 regardless of challenges and disruption brought on by the pandemic.

A fifth mentioned they’d used suppliers that supply environmentally pleasant services or invested in power environment friendly tools or equipment within the final 12 months.

Round one in ten corporations mentioned they’d made modifications to their premises to enhance power effectivity and an analogous proportion had switched power provider or put in an on-site renewable power supply.

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To pay for these modifications, 1 / 4 of corporations had been dipping into their money reserves whereas 15pc of corporations are utilising authorities grants.

The survey discovered that the highest three causes companies are selecting to turn into greener are long-term prices financial savings (19pc), stress from clients (15pc), and corporations’ company social duty insurance policies (12pc).

Dave Atkinson, East of England regional director for Lloyds Financial institution Industrial Banking, mentioned: “Most companies needed to re-evaluate their fast priorities to cope with Covid-19, which is why it’s vastly encouraging to see so many corporations with their sights nonetheless firmly set on bettering environmental efficiency.

“Environmental sustainability will likely be a crucial element of enterprise’ coronavirus restoration methods and funding on this space will help our area as its builds again higher.

“We’re dedicated to making sure that our clients have the assistance they should transition to a greener future.

“We’re standing by the aspect of corporations within the East with specifically skilled relationship groups and initiatives like our Clear Development Finance Initiative, which gives discounted lending for environmental functions.”