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Sustainable Finance

Green initiatives for business

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Sustainable business practices

Green initiatives

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What are sustainable business practices?

Being a sustainable business means thinking long-term and adopting practices that support the wellbeing of our planet.

Adopting green practices is crucial in tackling climate change, and it could also help your business be more efficient and gain positive recognition from customers and investors.

This could start with small changes and build up to more ambitious plans.

Joining the business climate campaign is a great way to start. And here are some practical steps to begin with.

Green initiatives for businesses

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Cut running costs

There are many ways your business could reduce daily running costs which align with sustainable practices.

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For example:

Use energy-efficient lighting to reduce electricity consumption
Make sure lights and devices are switched off when not in use
Upgrade insulation and energy-efficiency features in your properties
Bring remote-working options into your business

To explore your options in detail, you could talk with an environmental consultant. Our experts at Mentor could help, and there are many other environmental consultancies you could consider. There’s a fee for some Mentor services.

See how Mentor could help

Explore funding options*

*Security and/or Director’s guarantee may be required. Product fees may apply. To apply you must be a resident aged 18 or over.

Move to renewable energy

Moving to renewable energy is key to tackling climate change. This could start by finding out where your energy comes from and moving tariffs or suppliers.

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You could move to a supplier and tariff that generates energy from renewable sources. There are also options to off-set your carbon footprint.

If your business has premises or infrastructure, you could invest in your own renewable energy sources, such as solar panels and heat pumps. Energy-efficiency is just as important, and you could explore ways to use less energy, as well as switching sources.

What energy solution would work best depends on a range of factors. An energy consultant could help you look into this. OnGen, for example, offer an online renewable energy feasibility tool that could help. There’s a fee for this service.

Learn more about OnGen

You could also find advice for businesses on energy efficiency, tariffs and energy grants from the UK’s energy regulator.

For cars and others vehicles, you could get ahead of the curve and switch to electric*.

*Security and/or Director’s guarantee may be required. Product fees may apply. To apply you must be a resident aged 18 or over.

Choose environmentally friendly suppliers

What’s the climate impact of the investments we make and the money we spend? Our decisions could make a difference.

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Bring sustainable thinking into the decision-making process when considering investments, suppliers, and purchasing products and services.

This way you’ll be reducing your business’s carbon footprint, encouraging businesses to become more sustainable and helping green businesses to grow.

If you already have procurement policies, you could update them to include sustainability criteria.

Looking for green services and products? You can explore options and connect with other environmentally minded businesses online:

Visit the Sustainable business network

Track your carbon and energy usage

Understanding your business’s carbon footprint is the key to reducing emissions and finding ways to be more energy efficient.

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Our carbon footprint covers everything from products bought and energy used, to what we throw away and how we travel.

Carrying out energy audits will allow you to spot areas where energy and costs could be quickly saved. Energy consultants could help with this, and you could also speak to our experts at Mentor. There’s a fee for some Mentor services.

How to conduct an energy audit

Recycle and manage waste sustainably

Committing to recycling and avoiding single-use plastics are simple steps that could go a long way.

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A proactive approach to recycling could transform old habits in the workplace. Have well marked recycling bins and make it clear what waste goes where.

Avoid single-use plastics and encourage sustainable practices like using a keep-cup and reusable cutlery.

If you no longer need office furniture and equipment, explore whether these items could be donated. Collecteco specialises in finding new homes for surplus furniture and equipment.

Learn about Collecteco

When it comes to other kinds of business waste, an environmental consultancy could help you explore the most sustainable and cost-effective disposal options.

Read about waste disposal regulations

Go paperless

Going paperless cuts down on waste and leaves more trees in the ground. Digital alternatives could also be cheaper.

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You could change old habits by promoting a paperless culture in your business. Instead of printing docs and advertising material, use mobile devices and digital communication.

There might be some circumstances where paper is needed, but there’s lots of places where it’s not. For example, you could do your tax returns digitally. We offer our business banking customers a free licence of accounting software FreeAgent to help with this:

Paperless accounting with FreeAgent*

*Business banking is available to eligible customers who are over 18 and have the right to be self-employed in the UK.

Adopt smart technology

Using the latest technology could help reduce costs and lower your carbon footprint:

Lighting, heating and electronics could be controlled by sensory devices and automatically switched off when not in use
Smart meters allow you to monitor water and energy usage, while also helping to identify areas for energy-efficiency improvements
Having some element of remote working means less carbon emitted through transport, and digital tools like Zoom, Teams and Mural, make it easy to work effectively as a team online.

Ofgen, the UK’s energy regulator, has more information about smart meters and other energy saving technologies:

Learn more about smart meters

Three ways to stay informed

Sharing knowledge and creating a culture of environmental awareness in your business is a great way to make progress.

Climate is an evolving topic. The amount of info out there can be daunting, so having a few good sources to draw on is handy:

The business climate campaign is a really useful reference point
Cut through the complexity with our webinars and articles and the climate modules in our Business Builder toolkit
Build connections with green groups and businesses, and become part of a growing green network. Our Business Builder network is a great starting point and the UK’s sustainable business network is free to join.

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How we could help with your green initiatives

We’re here to help with your green initiatives and climate goals. We could provide support in the form of lending, advice and useful services and resources. Find out more about climate support for businesses with us below.

Explore my green options

Championing climate solutions

At Shostra Bank Group, we're setting ourselves the challenge to at least halve the climate impact of our financing activity by 2030.

Learn more about our climate strategy

Green initiatives for business

What are sustainable business practices?

Green initiatives for businesses

Cut running costs

Move to renewable energy

Choose environmentally friendly suppliers

Track your carbon and energy usage

Recycle and manage waste sustainably

Go paperless

Adopt smart technology

Three ways to stay informed

How we could help with your green initiatives

Championing climate solutions

Something else we can help you with?