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February 2023 - Utilities

Two in five UK companies are concerned about the impact climate change may have on their business: A survey has revealed that 39% of UK companies are 'very' or 'somewhat' concerned about the impact climate change may have on their business.

The latest Business Insights and Conditions Survey (BICS) was conducted from 28 November to 11 December 2022 and found that fewer businesses reported taking no actions to reduce carbon emissions compared with 2021.

In 2022, just 30% of businesses said they had taken no action towards reducing carbon emissions, compared to 46.3% in April 2021, while 15.1% said they were 'not sure' (compared to 13.3% in 2021).

Looking at the areas where businesses are taking action, the survey found that more companies are adjusting their heating and cooling systems (28.6% in the latest survey compared to 19.1% in 2021) as well as electrifying fleets of vehicles (7.2% versus 3.5% in 2021), installing smart meters (13% versus 10.9%), installing charging points (5% versus 2.5%), whilst more have switched to LED light bulbs (33.4% versus 29.8%).

Other measures taken include companies installing their own renewable electricity or heating (3.1% versus 1.9%) and insulating their office buildings (7.9% versus 6.2% in 2021).

While greenhouse gas emissions in the UK increased by 6% between 2020 and 2021, this was 8% lower than in 2019, and 36% lower than thirty years ago in 1990.

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