Only 65% of UK businesses have established plans to reach net zero emissions by the 2050 deadline, according to the largest industry survey to date. The survey, conducted by the UK Business Climate Hub in partnership with groups like the CBI, Institute of Directors, and British Chambers of Commerce, included responses from 2,005 organisations across various sizes and sectors. It found that only half of the businesses surveyed were actively measuring their carbon footprint.
Among those with a net zero plan, many reported significant obstacles that could hinder meeting the target. Key challenges included regulatory uncertainty following Brexit. The report emphasized that clear regulations would enable businesses to commit to long-term sustainability goals, attract investment, and operate more effectively in international markets, particularly within the EU.
Additionally, companies cited inadequate green infrastructure, particularly in transport, and insufficient government and financial support for energy efficiency and renewable projects. A vast majority (92%) of businesses expressed the need for better government assistance in terms of information, financing, and long-term regulatory stability.
The report also highlighted progress by sector. The IT and communications industry led the way, with 68% of companies having a net zero plan, while the financial sector lagged behind at 52%.
Key participants in the survey included Barclays, the British Retail Consortium, the National Grid, Lloyds Bank, HSBC, and NatWest.
Ed Lockhart from the Broadway Initiative, which manages the UK Business Climate Hub, praised the leadership of many UK businesses but acknowledged the hurdles faced by smaller enterprises, particularly regarding resources. He called for stronger partnerships between government and businesses to create clear decarbonisation pathways and support mechanisms.
Andrew Griffiths, director at Planet Mark, reinforced the need for stable policies and targeted support, stressing that the Labour government has an opportunity to facilitate effective net zero strategies.
The UK government became the first in the world to commit to net zero emissions by 2050, with countries like the US, EU, New Zealand, and South Korea following suit.
