Simplifying the Road to Net Zero: 93% of businesses set to fail meeting their goals
SaveMoneyCutCarbon, one of the UK's leading carbon reduction platforms, outlines climate technology that businesses can implement today.
Global research from the consultants and IT platform, Accenture found that 93% of businesses signed up to net zero targets will fail to achieve their goals if they do not double the pace of their emission reduction by 2030. While intent for reaching net zero within businesses is strong, as shown by the UN backed SME Climate Hub's reporting, a lack of knowledge on how to tackle emissions is prevalent, with research from NatWest showing that 87% of British SMEs alone are unaware of their carbon impact. As the Carbon Trust has highlighted that a 20% cut in energy costs represents the same profit savings as a 5% increase in sales, SaveMoneyCutCarbon (SMCC) has outlined the benefits to businesses that are brought by investment into accessible climate technologies.
Heat pumps Heating and cooling account for around 50% of a building’s energy consumption and the nation’s buildings also are responsible for around 40% of carbon emissions. The Carbon Trust advises that heat pumps have the potential to deliver CO2 reductions of up to 70% compared to conventional electric heating, and up to 65% compared to an A rated gas boiler. Heat pumps are four times more efficient than gas generation. They capture and compress the ambient heat from outdoors, converting it into useful warmth, with an amazing 300% efficiency. Non domestic buildings should be moving to low carbon heat sources under Part L of the Building Regulations while the government is aiming for 600,000 heat pump installations a year by 2030. What is more, the Committee on Climate Change forecasts that 19 million heat pumps will need to be installed by 2050 to meet net zero goals. Forward thinking companies like Waitrose are already moving to renewable sources, planning to replace gas boilers with heat pumps in all its supermarkets, while the technology is ideal for deployment in a wide range of sectors, including hotels, schools, colleges, and care homes. Ground source and air source heat pumps have a seemingly expensive upfront cost but they can pay for themselves within a couple of years through substantial energy savings.
Solar panels Solar photo-voltaic (PV) panels reduce a business’s electricity demand from the grid, which cuts energy costs and carbon emissions while demonstrating a clear commitment to a cleaner, safer planet. Solar panels ensure a company will reduce the stress from ever-rising energy prices and supply risks, with swift and ongoing reductions in electricity bills. Payback can be in as little as two to four years, so investing in commercial solar is a no brainer, particularly as energy bills are set to double in the next 10 years. Companies will also benefit from solar panels and other energy saving solutions being temporarily zero rated for VAT, and can claim a 100% first year capital allowance on the cost of purchase and installation, so the entire cost of the investment can be deducted from taxable profits in the first year. EV chargers Moving to EV and installing charging points should be front of mind for any company looking to develop a comprehensive sustainability strategy. There is no argument now about the cost effectiveness of EV and companies making the move early have seen substantial savings because their electric fleet vehicles are more efficient, use more affordable fuel and cost much less to maintain. Companies that move to EV will save up to 50% over time and the initial outlay on a new electric vehicle is approaching parity with conventional cars, and can often be offset by grants. Switching to EV also reduces vehicle carbon emissions by more than 50%, and cuts tailpipe emissions to zero. Costs of EV lifetime ownership are already cheaper than fossil fuel vehicles, we are seeing a rapid reduction in battery costs that should mean many EVs will have a similar price to ICE vehicles within three years. EVs can reduce carbon emissions by more than 50% if the electricity used is from renewable sources. Going electric mean that firms can have the best of both worlds, with cost effective and efficient fleets while demonstrating to green aware consumers that the need to protect the planet is paramount. Business EV charging also helps strengthen Environmental Social and Governance (ESG) policies, meaning greater investor appeal, while adding EV charging can increase the value of a commercial building. Delivering impact At the core of SaveMoneyCutCarbon are six tech hubs – audits and analysis, renewables, water reductions and smart washrooms, demand reduction, EV charging and content and design – that deliver the services and solutions offered, pulling on approximately 75 manufacturers and solution providers. As a result of this one stop shop approach, SMCC has delivered over 1000 audit, energy, water and decarbonisation projects covering all the key decarbonisation technologies and across all sectors. With a money saving through sustainability approach, SMCC provides an end to end solution in the form of a seven point plan that addresses Scope 1 to 4 emissions created by a business (Scope 4 argued by SMCC as the carbon literacy of employees). The steps for such an approach include:
Carbon mentor call – a business will be assigned a dedicated carbon mentor to understand the present situation within a business and their decarbonisation ambitions.
Baseline report – from the call, SMCC's platform creates an easy to understand Scope 1, Scope 2 baseline carbon footprint and guidance on Scope 3 and Scope 4 (staff carbon literacy).
Built Environment Audit – SMCC’s team then audit the building(s) to identify the money, energy, water, and carbon savings available.
Creation of investment grade proposals and tailored finance.
Design, supply and installation of proven products and solutions.
Staff engagement – SMCC’s EcoWise app and programme provides measured and rewarded learning improving carbon literacy.
Aggregated data – SMCC’s platform measures all the above with detailed data sets at each stage, being able to show ESG impact.
The company helps businesses and consumers take practical steps to a more sustainable future by providing products, solutions and expertise to support your full range of ESG and financial goals.