To-date, around two thirds (65 per cent) of SMEs have invested in workplace recycling schemes, 55 per cent have consciously reduced their business travel and 50 per cent have switched to more sustainable materials.
Average investment in sustainability is set to increase by 27 per cent to £78,392 in the year, with SMEs planning to take more significant measures. Around one in five (21 per cent) of SMEs are considering changing to an eco-friendly product or service, while 12 per cent will invest in carbon offsetting.
When asked how they planned to fund their sustainability investments, 31 per cent of respondents told Aldermore they planned to use business savings, while the majority plan to use finance products. Nearly half (45 per cent) want to work with lenders who have experience funding green projects.