More than one-third of firms have already taken steps to counter Britain’s rapidly rising summer temperatures.
Six-in-10 UK businesses has reported actively adapting operations due to extreme heat. 37% have already boosted investment, while 23% are seriously assessing their options.
Unsurprisingly, installing or upgrading cooling equipment and HVAC are the most popular steps being taken. This is followed by introducing tighter energy efficiency policies to bring down overall use.
The data, which comes from the Q2 Barclays Business Prosperity Index, also shows that the company’s corporate customer which have a role to play in fitting air conditioning and other temperate controlling systems, have seen their cash inflows increase by 4% year-on-year.
Less investment-heavy measures are also being introduced. These include offering staff additional breaks, as is the case at 28% of the responding firms. Meanwhile, 23% are giving employees the option to work flexible hours or remotely, and 21% have introduced adjustable working hours. More than a quarter reported a hot weather having a negative impact on productivity.
Barclays also assessed consumer behaviour this summer, with June and July seeing uplifts in spending of 2% and 1.9% respectively. This was driven by more sales at garden centres and on clothing, alongside electronics. One-in-five people said they had bought cooler clothes to cope with regular heatwaves. The study also asked for the ideal summer temperature, which came out as 24.6C — more than 13C cooler than this summer’s peak — although this varied for different tasks, with maximum heat varying depending on activities.
‘As businesses invest in cooling, ventilation, energy efficiency and wider workplace upgrades, facilities management providers are well placed to help organisations adapt to the challenges of extreme heat,’ said Gavin Parker, Head of Property Services, Barclays UK Corporate Bank.
‘From retrofit projects to improving building performance, the sector has a key role to play in helping businesses protect productivity and employee wellbeing,’ he continued. ‘As demand for these services grows, access to finance to support expansion and investment will be critical. Through initiatives such as the Barclays Business Prosperity Fund, we’re helping businesses invest in projects that strengthen resilience and support long-term growth.’
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