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Just one-third of UK businesses have a net zero plan

Companies with net zero plans said investment and legislation were the most helpful types of support to achieve their targets

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Companies with net zero plans said investment and legislation were the most helpful types of support to achieve their targets

Larger companies were more likely to have a net zero strategy in place, but not all have set a budget to achieve their goal

More than two-thirds of UK businesses have no strategy in place for reaching net zero, and nearly half feel 'overwhelmed' by the action needed to get there, a YouGov survey on behalf of Veolia has found.

According to the survey of over 1,000 senior business decisionmakers, only 29 per cent said UK businesses have a strategy for achieving carbon net zero.

This figure was slightly higher among UK companies with over 250 employees, where 52 per cent have a net zero strategy. Sixty-one per cent of larger firms also felt their reputation would be negatively impacted if they failed to achieve their net zero goals, the report found.

Somewhat encouragingly it was concern for the environment, rather than reputation, that was the biggest driver for businesses with a net zero strategy. Seventy-two per cent said environmental apprehension was a key reason behind their carbon targets, while reputation came in second at 60 per cent.

Veolia noted that 80 per cent of firms that had committed to a net zero strategy were confident they would achieve their goals.

Businesses with net zero strategies said investment (40 per cent) and government legislation (39 per cent) were the most popular types of support they would like to see to reach their carbon goals. Just 12 per cent said they did not need any external support to achieve their net zero target.

More than half (56 per cent) of UK companies with a net zero strategy have set a budget to achieve their aims, while 40 per cent are also employing third parties for carbon offsetting practices.

Gavin Graveson, senior executive vice president of Veolia Northern Europe Zone, said: "Just over 40 per cent of UK businesses may feel overwhelmed by the steps they need to take to reach carbon neutrality, but every step businesses take makes a difference to our planet, protecting it for future generations.

"We need to see more industries commit to a robust strategy to reduce their environmental impact, whether that be through use of electric vehicles, cleaner energy supplies or reduced packaging."

He continued: "In the wake of COP26, we need to work together, share expertise, innovate and research new sustainable solutions so carbon net zero can become a reality, rather than a goal."

This article first appeared on Computing's sister site Investment Week.

Just one-third of UK businesses have a net zero plan

Larger companies were more likely to have a net zero strategy in place, but not all have set a budget to achieve their goal

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