22% of Businesses Believe Coronavirus has Hampered their Net-Zero Plans

The Eco Experts

22% of Businesses Believe Coronavirus has Hampered their Net-Zero Plans

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A recent survey, conducted by Energy Live News, reveals that 22% of businesses believe the coronavirus pandemic will curb their net-zero plans. 

The survey, consisting of 215 participants, found that of those businesses negatively affected by the virus, 51% said they didn’t know how long their net-zero plans will be postponed for, while 25.5% predicted at least a one-year delay.

Respondents of the survey were mostly in small and medium-sized enterprises (SMEs), or in very large corporates – with less feedback from mid-market businesses.

Net-zero business meeting

Last year, the government encouraged companies across the UK to go greener after releasing a new target to make all greenhouse gas emissions net zero by 2050. ‘Net zero’ means that any carbon emissions released into the atmosphere are balanced out by offsetting schemes, such as planting trees, or using technology such as carbon capture and storage. 

Achieving net-zero status as a nation will contribute to the global effort to slow the escalation of climate change. On top of this, if companies don’t jump on the net-zero bandwagon soon, they’re likely to suffer financially. 

Before the coronavirus pandemic, bank governor Mark Carney stated: “There will also be [companies] that lag behind, and they will be punished. […] Companies that don’t adapt will go bankrupt, without question.”

But it’s not all bad news. Although the post-pandemic economy is predicted to suffer substantially, according to the survey, 78% of businesses believe this is the perfect opportunity to capitalise on net-zero plans. The government is similarly strategising green initiatives for a coronavirus recovery

So, it’s comforting to know that while lockdown starts to ease, we’re all working towards the same green goal. 

Beth Howell Writer

Beth is The Eco Experts’ newbie. She’s keen to use her writing skills, and passion for green living, to help the environment. Whether you’re after a new boiler, or just interested in how solar panels can improve your home, she’s got your back.