The UK economy is legally bound to achieve net zero carbon emissions by 2050 and reduce carbon emissions by 60% by 2035 from today’s levels. The West Midlands Combined Authority (WMCA) also has a regional target of net zero by 2041.
Therefore, business and industry will have to reduce their carbon emissions in line with these targets. How businesses respond to this and the associated opportunities and risks will influence their future survival and profitability.
The world and Birmingham have a problem: increased greenhouse gasses (GHG) are raising global average temperatures, causing increase extreme weather and strain on natural resources, which costs economies billions.
Greenhouse gases trap heat; carbon dioxide is the most prevalent and so is focussed on the most. Human activity is the main cause of this. In our region, GHGs and air pollution cost around £2.5 billion annually. This risks public health, and investment for the region.
This business imperative has caused increased environmental concerns, increased consumer and supplier pressure, and environmental contract stipulations to reach net zero for businesses, meaning they need to adapt.
This presents many opportunities and risks:
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This Summit will help you understand your businesses role in progressing to net zero, as well as the opportunities and challenges that will come from the net zero transition.
Join this once a year Summit to acquire the know-how for building a more environmentally sustainable and resilient business.
If your business would like to contribute to The Sustainable Business Series 2021: Net Zero content, please register your interest below.
Our ‘Net Zero and the Business Community’ briefing paper details why net zero is important for businesses, the economic and commercial opportunities it presents, and legal and compliance obligations. It also highlights what businesses can start to do to prepare for the transition.
We have consulted with our members to form recommendations to the Government to support business progress to net zero. To view click below
Various initiatives assist with informing the practical steps to take, progressing your environmental performance and improving the management of your business to contribute to net zero. See below.
This is a local initiative led by the Sutton Coldfield Chamber. It details the small changes businesses can make to reduce their environmental impact, and impact their bottom line. The pledge has gained traction and spans multiple Greater Birmingham Chambers.
A regional initiative covering any organisation across the 18 local authority areas of the WMCA. Sustainability West Midlands are administering the pledge and supporting organisations progress towards their pledge.
A national initiative with a specific focus on SMEs. The hub provides various tools, resources and support to manage your businesses transition to net zero.
A partnership between business organisations, energy networks and professional bodies to give small businesses the advice they need to reduce their carbon emissions