Actionable advice from UK Finance and the CBI on how SMEs can secure the right finance to achieve their ambitions for green growth.
Through the Climate Change Act, the UK government has committed the UK to achieve net zero carbon emissions by 2050. All businesses – including SMEs - can play a pivotal role on the journey to a decarbonised economy. Cutting your carbon emissions and investing in new sustainable projects is the right thing to do for the future of our planet, but it also makes good business sense for those who want to seize opportunities in a net zero economy of the future.
For many SMEs, taking the first step on their sustainability journey is usually the most difficult one. If you don’t know where to start, this guide developed in partnership with UK Finance, can support you in planning what you need to do to navigate the climate challenge and reduce the climate emissions. It will help you understand:
- Why tackling climate change is important
- The opportunities for your business
- How to get started
- Finding finance to invest in business change and innovation
- How to locate useful sources of advice
There are many steps you can take to reduce your carbon emissions and, the good news is, that lots of these will have a minimum cost or save you money. Using SME case studies from different sectors and regions, the guide shows what kind of financing opportunities are out there and how you can rely on financial institutions, such as VirginMoney, Royal Bank of Scotland and Barclays, to support you in the green growth of your business.
Financing green: a guide for SMEs
Case study: financing sustainability for a food supplier
Island Delight secures a £600,000 loan to reduce its environmental impact
Island Delight, which supplies Jamaican patties and ready meals to major UK supermarkets, has already had a zero-waste landfill policy for more that 15 years and uses anaerobic digestion to produce energy from its food waste.
This £600,000 invoice finance loan from Lloyds Banking Group will be used to install solar panels across its 15,000 sq. ft. manufacturing site in Hockley and to fund its first electric vehicles as part of its fleet.
The company already uses anaerobic digestion to produce energy from its food waste and has had a zero waste to landfill policy for more than 15 years.
By investing in becoming greener, Island Delight is determined to ensure the business makes a positive impact in the local community. The team takes part in volunteering and mentoring activities in the region, with the CEO Wade Lyn receiving a CBE in 2013 for his contribution to the local community and supporting young people.
