- 73% of UK businesses have made net zero a priority, but many are facing financial and resource challenges. While 57% have already developed emission reduction plans, 29% aim to create one within the next year.
- High costs and uncertainty around policies are significant obstacles, with 59% of businesses citing financial constraints as a major barrier.
The 2024 UK Net Zero Business Census, the largest survey of its kind, examined over 2,000 businesses and revealed that 73% of respondents prioritize net zero in their strategy for the coming year, many companies struggle with the practicalities of achieving it.
"Net zero isn’t just about hitting targets; it’s about reshaping business strategies for long-term resilience," says Andrew Griffiths, Director of Policy at Planet Mark.
Financial and Policy Challenges
High costs were identified as a key barrier by 59% of businesses, indicating that while the intent is there, financial limitations hinder progress. Additionally, 50% of respondents pointed to policy uncertainty, calling for clearer government guidance and support.
"The findings underscore the need for customized financial mechanisms and clearer regulations to speed up business decarbonization," says Ed Lockhart, Convener of the Broadway Initiative.
The report highlights the need for financial support and collaboration to help UK businesses overcome these challenges and meet their carbon reduction targets by 2050.
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