Green energy and fuel:
A shift to more renewable sources of energy has been argued for by activist groups for years now, many times calls for this have been shut down or simply moved to a ‘we’ll deal with it later’ pile. But do we have the time to ‘deal with it later’ now? Especially following the IPCC report a couple of weeks ago (referenced in issue 1 of the green guide).
The climate crisis, coupled with the war in Ukraine is putting increasing pressure on international governments to move away from natural gas and oil usage. Wind power, solar power, and hydroelectricity are increasingly popular options to shift away from the dependence on Russian oil and gas.
In this edition of the Green Guide, we will provide news summaries on green energy and fuel, provide a quote from Jennifer Tankard of UK Finance on the pivotal role all businesses – including SMEs – can play on the journey to a decarbonised economy, and finally discuss our actions as a company concerning this.
Green Energy News Summary:
- Researchers led by Imperial College London have developed a new type of hydrogen fuel cell that uses iron which is much cheaper and less rare than the platinum which was being used before. This enables greater use of this technology. The only by-product of hydrogen fuel cells is just water vapour! This would be a powerful green alternative, especially for fuelling vehicles. You can read the full piece here.
- The latest edition of NatWest Sustainable Business Tracker has suggested that the number of SMEs with onsite energy generation is set to double, despite economic headwinds. SMEs are prioritising measures to cut energy bills and carbon emissions. NatWest’s survey of 850 SMEs with under 250 employees now suggests that around 1 in 6 SMEs intend to generate onsite green energy by 2023. You can read more here.
- A start-up project is set to offer greater transparency over energy sources and this could lower bills! Soon consumers will be able to check where their energy is coming from and perhaps get a discount on bills at times when renewables are in surplus. The start-up ‘Granular’ and energy giants like Elexon and National Grid, have plans to allow UK consumers to check their energy sources. This will allow for greater transparency about how much renewable energy companies are actually using. You can read more about this exciting initiative here.
The expert Quote:
For this week’s issue of the Green Guide, we approached Jennifer Tankard, of UK Finance. She has recommended UK Finance’s joint guide with the CBI on Financing Green for SMEs for businesses interested in green and sustainable practices.
Regarding the support and encouragement of UK businesses in reducing their carbon emissions, Jennifer commented:
“UK Finance and its members are committed to supporting businesses to reduce their carbon emissions through the provision of advice and support as well as providing access to finance where appropriate. We would encourage all businesses to start thinking about how to reduce carbon emissions, whether they should consider using external finance and how to identify the right finance solution for their business.”
Jennifer has also recommended the ‘UK Finance Commercial Finance Week – the role of business in delivering the UK’s net zero ambition’ Webinar which is at 9.00 on Tuesday 5th July.
This expert panel will discuss the challenges and opportunities that businesses face in implementing their net zero plans. It will also consider how the financial services sector can support net zero goals. You can book here!
Our actions as a company:
- In terms of our own actions towards green energy and fuel, Roxanne, our Compliance, Relationship, and Admin Director runs a fully electric car
- Our Group Sales Director, Stefan also has a hybrid vehicle
- Many of the team use public transport whenever possible
- To further reduce our carbon footprint, we are holding many more meetings online in the post-Covid period.
We’re always looking to support more green businesses and initiatives when it comes to funding – if the business you run has green and sustainable practices and you need funding, don’t hesitate to get in touch today!
How does your business focus on sustainable practices when it comes to green energy and emissions? Let us know, we’re always looking to improve!
Thanks for signing up and reading! Stay tuned for issue 3 in 2 weeks’ time!