Businesses expect that sustainability will lead to a growth in sales

Three quarters (78%) of UK companies expect a greater focus on sustainability to result in a growth of sales over the next year, according to new research conducted by HSBC UK. 

HSBC surveyed more than 10,000 businesses in 39 markets and found that three-quarters of UK businesses now have metrics in place to measure environmental sustainability, up from 62% in 2019.

This includes 28% measuring energy usage, 21% measuring carbon emissions and 20% measuring waste.

73% of companies also said they plan to introduce net-zero emissions goals to their own operations and across their supply chains.

Almost nine in ten businesses also said they believe there are multiple opportunities to improve their environmental and ethical sustainability, most notably by introducing new ways of working and promoting employee well-being.

Rob King, HSBC UK head of sustainable finance, said: ‘It’s extremely encouraging to see such a positive set of results following an unprecedented year faced by businesses across the country.

‘The report tells us that firms genuinely want to build back better and have sustainability and the move to a net-zero economy right at the top of their priority lists as they look to adapt their operations to the ‘new normal’.

‘We see consumers having increasing expectations when it comes to sustainability and the companies they engage with and this greater focus on sustainability by businesses will help them to build their reputations and make better connections to their customers.

‘But there is still work to do. The Government announced its Green Industrial Revolution plan last month and our research suggests that firms will need further support and incentives as they strive to reach these lofty goals.’

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