Since Naturesave Insurance was founded, a core component of our campaign work is to support our business community to a more sustainable future, and lower their exposure to risk. The large majority of our commercial client-base are small and medium-sized businesses (SMEs).
The positive impact one small business can have on the planet may appear minimal when compared to the activity of the 100 businesses responsible for 71% of global greenhouse gas emissions. However, the aggregate impact of SMEs is huge. SMEs make up 90% of businesses worldwide, and comprises 99.9% of all UK business – giving them a key role in reducing carbon emissions. There simply cannot be a net zero economy, without SMEs transitioning to net zero aligned operations.
Many of our clients chose Naturesave as their insurer as we align with their core values, and many are already taking steps to address climate change and improve overall sustainability.
However, SMEs do not operate in a vacuum. SMEs supply larger companies with products and services, forming part of their supply chain – and in so doing, form part of a larger company’s scope 3 emissions. Scope 3 emissions as a whole can represent over 90% of an organisation’s carbon footprint, and are the hardest to reduce, being the furthest away from a company’s operations.
As larger corporations become accountable to supply their carbon and filings, SMEs contributing to supply chain emissions will also be under pressure to decarbonize and provide carbon inventories and transition plans to their customers.
Although some small businesses are leading with entrepreneurial low-carbon or circular economy models, small businesses in general already work overtime for us. Small businesses provide character and individuality, and often form the backbone of a community by increasing cohesion. Local businesses tend to support other local businesses, they create a thriving local economy, provide local jobs and help keep vibrant, healthy communities. Addressing carbon emissions and prioritizing sustainability across their supply chain, can simply feel like an overwhelming task on top of existing business priorities.
A survey by The SME Climate Hub – an excellent UN-backed free resource engaging small and medium-sized businesses in the Race to Zero – conducted a survey to explore what barriers are preventing SMEs from reducing their emissions. The survey found that the most common barrier to SME climate action is a lack of resources, with 63% stating they did not have the right skills, and 42% saying there were other more pressing or priority issues. A further lack of resources can also include lack of personnel, knowledge or time to dedicate to the issue.
To help fill this gap and support our existing and new business clients, we have launched a Sustainability Service. This service consists of up to 4 hours of free consultancy and sign-posting to free resources, to help your business align with the 1.5 temperature goals.
The Sustainability Service is available to all Naturesave Insurance commercial insurance clients with an annual premium of over £750.
Through this programme, Naturesave business clients can draw on critical professional knowledge which is key to making the transition to net zero.
Naturesave business insurance client? – book your free consultation click here (please note you will need your policy number)
Not currently insured with Naturesave? Find out what we can offer here
Book in today for your free net zero support – Find out what we can offer here