In fact, research shows that as many as 48% of SMEs who are interested in tackling climate change lack the basic information to do so.

What makes it even more difficult is the seemingly lack of direction from the organisation who should be here to support businesses in making the right environmental decisions – the Government.

Despite its commitment to achieving net zero by 2050, the Government continues to roll back on green policies, taking measures such as scrapping most of HS2 and delaying the phasing out of fossil fuel cars.

If the Government does not have a clear plan of action when it comes to prioritising meaningful climate action, how can the owners of SMEs be expected to have the same?

The reality is, SMEs are vital to the British economy and should play a key role on our journey to net zero. At the start of 2023, SMEs accounted for 99.9% of the UK’s business population, around three fifths of employment and around half of turnover in the private sector. There’s huge potential to create lasting change if we can support SMEs correctly.

Of course, we are not going to achieve our country’s climate goals overnight. But there are some easily achievable ways in which SMEs can review their current business operations and put measures in place to achieve a more sustainable future.

Where is your money going?

For business leaders, looking at how you spend money and what exactly you spend it on can be key to implementing greener policies within your organisation.  

Unfortunately, many banks continue to funnel billions of pounds into fossil fuels. A recent report from ActionAid International found that HSBC provided over $80bn (£62bn) in financing toward fossil fuels from 2015-2023, making it Europe’s largest financial backer of fossil fuels.

In the same period, Barclays provided $41.1 billion (£32.15 billion) in financing toward fossil fuels.

With this in mind, choosing an ethical bank such as Starling or Triodos, is a great place to start. Ethical banks allow you to have a say in how your money is invested, meaning you can use it to support environmental efforts.

For example, Triodos supports the funding of environmental technology, which includes everything from local recycling schemes to global projects including supporting organisations such as Advanced Draining Systems in the US.

The power of collective action

Never under-estimate the power of a strong network.

Surrounding yourself with like-minded individuals and businesses through networking events creates a purpose-driven community which is well positioned to work towards a better future.

Whether it’s through a formal networking event, signing up to a business directory, or a quick meeting over coffee, the power of being part of a community should never be underestimated.

A petition needs 10,000 signatures to be responded to by the Government and put forward for debate in Parliament. If we take collective action, then we are much more likely to have our voices heard by our country’s decision-makers.

No one business is likely to have either the answers or the resources to fix the climate crisis, but collectively we just might. There are huge benefits when companies, even direct competitors, come together to collaborate.

Shout about your success

Once you begin carving out your path towards a more sustainable future, publicising your efforts in a way that can inspire other businesses to follow suit can be hugely beneficial way to spur on other organisations who may be struggling to make positive environmental changes.

Showcasing meaningful green practices will also present businesses with commercial and reputational advantages. As many as 85% of CIO’s state that a commitment to environmental issues is a key factor in their investment decisions.

There’s a lot of talk about greenwashing right now, and it’s something organisations should be mindful of – but if businesses are confident in what they are doing in the sustainability space, and can prove the value of the environmental changes they’re making, we should absolutely be shouting about our successes.

Final thoughts

Time is of the essence for climate action, and the current media narrative around climate change is far from hopeful.

However, if SMEs can take steps such as re-examining their spending practices and joining forces with industry peers, then the business world can lead the way in the journey to meaningful climate action.