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The Carbon Trust has released a new guide that helps small and medium enterprises (SMEs) benefit from the UK’s green market, which is currently valued at stg£112bn.
The Carbon Trust believes that SMEs can profit from accelerating growth in the green economy. However, recent research by the Carbon Trust shows that not all small businesses are aware of the opportunities available in the UK.
Fifty-two per cent of the UK's SMEs reported that they view a greener economy as a threat. Nearly half of respondents believe that they require access to capital in order to reap the benefits of green growth. Only 29pc said they believe embracing the green economy will lead to increased profits, and only 22pc said they are investing in greener products or services.
The Carbon Trust's Green Your Business for Growth guide advises SMEs on how to: take advantage of the multiple benefits of green growth, identify green growth opportunities specific to their organisation, develop a green growth strategy, reduce their environmental impact, green their products and services, and increase their competitive advantage.
The guide includes templates for energy and environment policies, as well as a checklist to assess current sustainability.
Discussing the new publication, Ian Gibson, director of delivery programmes at the Carbon Trust commented, "We want to help Britain's small firms to seize the opportunities presented by green growth through cutting costs or developing greener products and services.”
"Businesses that do not embrace the green economy risk losing out. As larger firms look to reduce carbon in their supply chains, SMEs that don’t act now could get cut out in favour of greener competitors,” explained Gibson.
The Carbon Trust mentions Reading-based printing business, Lamport Gilbert as a business that exemplifies embracing the green economy. The company which has 40 employees has won major contracts as a result of its green technology investments. The company is reducing its overheads and improving profitability. The company has also reduced its annual energy spend by around £10,000.
“There’s no doubt that being greener has won us new business,” said Lamport Gilbert’s managing director Andy Robbins.
"Large companies are looking for higher environmental standards from their suppliers and unless you can prove you are doing your bit, you will miss out on opportunities,” he concluded.