Leveraging our advisers to support Net Zero
In June 2019, parliament passed legislation requiring the government to reduce the UK’s net emissions of greenhouse gases by 100% relative to 1990 levels by 2050. Doing so would make the UK a ‘net zero’ emitter.
Net Zero refers to achieving a balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere. Recognising that there will be some emissions but that these need to be fully offset, predominantly through natural carbon sinks such as oceans and forests.
When the amount of carbon emissions produced are cancelled out by the amount removed, the UK will be a net-zero emitter. The lower the emissions, the easier this becomes.
Newable are uniquely position to support the government’s net zero plan, as an advisor to small and medium sized business across the UK, Newable can use the platform it has to engage with SMEs to start thinking about ways they are able to reduce their carbon footprint and advising on tangible differences that can be made by the smallest of businesses.
Teju Akande, an International Trade Advisor at Newable with a background in the oil and gas industry, has already started doing this with her clients.
Over the last 12 months, Teju has been advising her clients of the importance of net zero and the impact to their business.
Teju has also created a report that outlines in detail what the net zero plan entails and what this means for businesses in the UK, informing on how businesses can incorporate sustainability values into their business model to ensure that they remain competitive in the global market place.
The report has helped Teju’s clients focus their attention on the impact, to their business, of climate change and the knock-on effects which includes changing government legislation, customer/client responses to their product and employee retention.
This tool has enabled her client base to develop a response to how to reduce their carbon footprint. Clients are also reviewing their corporate branding to include alignment with net zero.
Some of Teju’s clients have successfully applied for grants to help them dedicate the necessary resource needed to develop internal functions and processes in light of the international targets to reduce GHG emissions and align with UK government net zero targets.
Aralia Systems Ltd designs software to help enhance security in airports, railway stations and other public buildings. The company works with public, private and government organizations around the world.
Following a conversation with Teju Akande on the UK net zero target, and the importance to the resilience of their business, Aralia asked for support with designing a corporate decarbonisation strategy. Being an SME with limited resources, Aralia also wanted support with appointing a consultant to help the business to develop internal functions and processes in light of the international targets to reduce GHG emissions and align with UK government net zero targets.
Teju sent Aralia a copy of the net zero guide booklet and suggested that they apply for grant funding from the Internationalisation Fund where co-investment funding between £1k – £9k is available to businesses.
Aralia successfully applied for a grant from the Internationalisation Fund using the step-by-step guidelines in the net zero booklet as a basis for their application.
The market insight provided by DIT is a critical source of data for Aralia, as the company develops a business plan for the green post COVID-19 economy.
Glynn Wright, CEO of Aralia Systems Ltd.
Seeing the positive impact one advisor’s actions had on many SMEs was remarkable and this has prompted Newable to roll out a new protocol in the advisory team where advisors will be trained on how to advise clients on ESG and incorporate that in their regular engagements.