Lancashire firms still keen to be greener despite problems of 2020

More than half (56 per cent) said becoming more environmentally sustainable is important to their business – just nine points fewer than the proportion that said the same in 2019.

Despite the challenges of the last year and the disruption caused by the coronavirus pandemic, almost two thirds (62 per cent) of SMEs have continued to work to become more environmentally sustainable in the past 12 months.

Some 30 per cent said they had made alterations to their premises to improve energy efficiency or used suppliers that source environmentally friendly products and services.

When it comes to sustainability drivers, long-term costs savings (20 per cent), firms’ corporate social responsibility policies (19 per cent) and pressure from customers (18 per cent) are the top three factors.

Meanwhile, cash reserves (42 per cent) and government grants (14 per cent) remain the most popular forms of finance for SMEs looking to improve their environmental performance.

Martyn Kendrick, Regional Director for the North West at Lloyds Bank Commercial Banking, said: “Environmental sustainability has been high on the agenda for North West businesses for some time, so it’s encouraging to see many are still prioritising it despite the disruption and uncertainty caused by Covid-19.

“Sustainability will play a key part in coronavirus recovery strategies, and help the North West as a whole build back better.

“We’re committed to ensuring that our customers are fully supported to transition to a low carbon economy. We’re standing by the side of businesses across the region with discounted funding for green initiatives and relationship teams specially trained to help put sustainability plans into action.”