Small businesses who prove they are genuine about the environment can gain clear market advantages - despite a new report which says only 10% of them see clear business benefits from climate action.<br /><br />The Royal Bank of Scotland report, Springboard to Sustainable Recovery, says the move to net zero could create 30,000 new small businesses across the UK - and 130,000 new jobs. The business opportunity for SMEs (small and medium-sized enterprises) is put at £160 billion.<br /><br />Judith Cruickshank, Managing Director for Business Banking at Royal Bank of Scotland and NatWest Group, tells The Scotsman podcast series A Greener World Needs A Plan: “SMEs are the lifeblood of our economy, they contribute 50% of turnover and 60% of employment. So they have a significant role to play in the transition to net zero.<br /><br />“From their own businesses SMEs are accountable for 30% of UK emissions. But they can help drive a much greater reduction in that through developing and delivering solutions. For example, the UK’s transition to net zero will need to support 5 million installation retrofits across homes, 3 million heat pump installations, 125,000 electric vehicle charge point installations - and we need businesses to help deliver that.”
