06 Oct Britain needs to fall back in love with net zero or risk falling behind as ESG investing runs out of steam
Investors have pulled out of their environmental, social and governance (ESG) investment funds in record numbers over the summer, as £448 million was taken out in August – the third consecutive month of outflows. Further to this, communication agency MHP found that just one per cent of investors said ESG concerns were top of their list when making decisions around whether to back companies, favouring their bottom line over everything else. As the nation loses confidence in the collective ability to meet net zero by 2050 and the government rolls back on its green commitments, it’s becoming clear that the momentum that was once behind net zero, is beginning to fade. The sobering reality is that only 7% of companies are on track to achieve their net zero targets for scope 1 and 2 emissions, and 93% are set to fail unless carbon reductions are accelerated drastically by 2030, further reinforcing that action must be taken within these businesses, or they could very well face closure. Mark Sait, the CEO and Founder of the UK’s leading sustainability consultants, SaveMoneyCutCarbon (SMCC), is available to comment on why businesses must now take sustainability into their own hands and why net zero doesn’t have to be at a cost, but an investment into necessary future savings – and future revenue.
Nominated as one of the 13 fastest growing and most impactful businesses in Europe by Unreasonable Group, Mark Sait shares how businesses, such as Birmingham County Football Association (BCFA) and Lincolshire Herbs Ltd, have profited from their definitive strategy making net-zero goals a reality.
How SaveMoneyCutCarbon helped save Birmingham County Football Association (BCFA) four metric tonnes of CO2 annually:
The BCFA, committed to achieving net zero targets by 2030, launched their innovative “Save Today, Play Tomorrow” program for low-carbon football. To bolster their commitment, the club enlisted the help of SaveMoneyCutCarbon which conducted a thorough audit from Scope 1 through to Scope 4 emissions.
The organisation proceeded with the layout, design, and system specification of a full set of solar panels, significantly reducing their carbon footprint and generating substantial cost savings.
The results of BCFA’s collaboration with SaveMoneyCutCarbon were outstanding. By adopting solar panels, BCFA now saves a remarkable 17,000kWh of energy annually, resulting in a reduction of 4 metric tonnes of CO2 emissions each year. Moreover, the return on investment (ROI) is projected to be achieved in less than three years, making the transition to sustainability economically viable.
Another one of SMCC’s clients, Lincolnshire Herbs LTD, a supplier to national supermarkets across the UK, made savings of 25% on their energy bills once using their sustainable services. Paul Bailey, Managing director of Lincolnshire Herbs Ltd, who provide herbs to major supermarkets throughout the UK, comments on how SMCC has helped their company with the quality of their crop and the cost of operations:
“Across the last 18 months, it’s been tough seeing the cost of fertilizer, peat, and seed rise with inflationary pressures, however the cost of energy has hit harder than any other cost.
“Even though we secured an energy tariff when price were low during covid, we have used this intermediary time to streamline our services with the help of SaveMoneyCutCarbon in anticipation of a bigger bill hike to come.
“Though it’s a big investment for us in terms of upfront costs, the payback is good – our electricity usage has been cut by about 25%. Their services have also benefited our business in terms of the quality of the crop.”
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 & tailored finance
Design, supply & installation of proven products and solutions
Staff Engagement – SMCC’s EcoWise app & programme provides measured and rewarded learning improving carbon literacy
To date, the aforementioned plan has helped deliver over 1000 projects to businesses across the UK, in turn saving 32 million kilowatt hours of energy, 772 million litres of water and 24 million tonnes of carbon reduction.
Mark Sait, CEO of SaveMoneyCutCarbon, commented the following on the importance of behavioural change in the UK:
“The BCFA exemplifies how net zero goals can be achieved when driven by a clear vision and supported by sustainable technologies.
“Businesses are likely to bear the brunt of the changes needed if the UK is going to get to net zero, but there is little pragmatic support to help businesses of all sizes to better understand what can be done, and where to start. The market is very fragmented with many individual consultants, manufacturers and installers all tackling bits of the sustainability jigsaw. SaveMoneyCutCarbon is solving this, by aggregating selected, proven technologies and solutions from a wide range of manufacturers. Products and solutions need to be carefully selected by building an application, brought together, and installed correctly to maximise savings. Now that businesses and homes can really save money through sustainability, the narrative is changing. Everyone wants to save money.
“Governments can establish rules and enforce them, but it is businesses like SaveMoneyCutCarbon that need to create new ways of doing things, creating new business practices with positive measured outcomes. There needs to be. a positive framework to invest in and help grow businesses like SMCC as we deliver back more than shareholder returns.”
