Sustainable Future_Are NI businesses taking more action than GB

Sustainable future
Are NI businesses taking more action than GB?
savanta.com
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Are NI businesses taking more action than GB?
Are NI businesses
working towards a
sustainable future?
The UK Government is currently committed to reaching
net zero by 2050 and expects businesses to play a
crucial role in reaching this target by taking positive
action. In turn, the government aims to offer support in
the form of various policies, incentives, and funding
opportunities.
Savanta recently asked businesses in Northern Ireland
whether they had taken any specific actions to make
them more sustainable and how much influence this
had had on their decision-making policies.
The same research had been carried out with GB
businesses, and Savanta was keen to understand any
differences between businesses in Great Britain and
Northern Ireland.
Savanta has used one of its surveys to better understand if NI businesses have
taken more sustainable action than GB businesses
MarketVue Business Banking from Savanta: A continuous survey of 15,000
financial decision makers in UK businesses and over 10 years of historical data
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Are NI businesses taking more action than GB?
Sustainable action appears to
be lower on the NI agenda
Businesses in Northern Ireland are less likely to have undertaken any sustainable
action compared to GB and this difference is significant (55% vs 70%).
The most common sustainable action taken by NI businesses is choosing
responsible and sustainable suppliers. This also leads for GB, but the
proportion of NI businesses is significantly lower. NI businesses are also
less likely to have conducted an audit or certification than GB businesses.
They do appear to take more action than GB businesses in relation to
investment in new technologies and switching to renewable energy
suppliers, although these differences are very small.
Over 4 in 10 (45%) claim to have undertaken no sustainable action.
Actions taken to make the business more sustainable
100%
90%
80%
70%
60%
50%
55%
45%
NET: Any sustainablity
70%
NET: No sustainablity
Chosen responsible and sustainable suppliers
Invested in new technologies to drive sustainability
Switched to a renewable energy supplier
Conducted an energy efficiency audit
24
23
16
19
36
34
45
54
40%
30%
20%
10%
0%
NI
GB
30%
Conducted a carbon audit
Become carbon neutral certified
7
9
4
5
0 10 20 30 40 50 60
NI GB
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MVBB: Q3 2023 (SU EST £0-1bn GB and NI). Base: All excluding DK
MVBB: Q3 2023 (SU EST £0-1bn NI). Base: All excluding DK
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Are NI businesses taking more action than GB?
Number of sustainability activities undertaken
16
13
NI
8 2 0
45
22
11
GB
2 1
5
30
0
1
2
3
4
5
16
29
6
Mean no. of actions: 1.32
Mean no. of actions: 1.43
Just over 5 in 10 (55%) of NI businesses have completed at least one
of these six sustainable actions compared to 7 in 10 (71%) for GB.
Fewer NI businesses have undertaken at least one (16%) or two
actions (13%) compared to GB, but a significantly greater proportion
have undertaken 3 actions compared to GB (16% vs 11% respectively).
savanta.com
MVBB: Q3 2023 (SU EST £0-1bn GB and NI). Base: All excluding DK
MVBB: Q3 2023 (SU EST £0-1bn NI). Base: All excluding DK
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Business profiles in NI impact
sustainable action too
In Northern Ireland just over half (51%) of limited companies said they had
taken action to make the business more sustainable, however this is
significantly less than what we saw for GB businesses (71%). A similar
proportion of NI limited businesses have taken no action (49%).
Amongst self-employed/sole trader businesses in NI, almost 6 in 10 (59%)
have taken no action, which is higher than for limited businesses (49%) and
significantly higher than GB businesses (37%).
Actions taken to make the business more sustainable
100%
GB NI
GB NI
80%
60%
29%
49%
37%
59%
NET: No
Sustainability
40%
20%
71%
51%
63%
41%
NET: Any
Sustainability
0%
Limited companies
Self-employed/ sole trader
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MVBB: Q3 2023 (SU EST £0-1bn GB and NI). Base: All excluding DK
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Are NI businesses taking more action than GB?
What does the future
of sustainability
look like?
All NI businesses were asked to consider
the influence sustainability and climate
change will have on their decision-making
policies in the next year or so…
Sustainability and climate change
will have more influence on future
NI decision-making policies
Almost half (47%) of NI businesses
anticipate sustainability and climate
change will have more influence on
their future decision-making in the next
year and this is significantly different
to what GB businesses considered
would be the impact (40%). However, a
similar proportion (46%) of NI
Businesses say there will be no change
(but significantly lower than GB, 54%)
46
%
NI
3%
4%
47
%
54%
GB
2%
More influence
No change
4%
40%
Less influence
Don't know
Those NI businesses who anticipate
more influence in their future
decision-making are more likely to be
limited companies, those with a
smaller number of employees and
younger owners. In GB, larger
businesses (11+ employees)
predicted more influence
41 % 66 % 60 %
2-5
Limited
companies
employees
Owners aged
up to 44yrs
savanta.com
MVBB: Q3 2023 (SU EST £0-1bn GB and NI). Base: All excluding DK
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Are NI businesses taking more action than GB?
Sustainability matters
to NI businesses – but
current take up is low
While recognising the significance of
integrating sustainable practices into
businesses in Northern Ireland, it
appears that they may not prioritise it to
the same extent as businesses in Great
Britain. Notably, a substantial 45% of
businesses in NI have yet to take any
sustainable action.
Why might this be?
The GB business sector is significantly larger and more diverse compared to
NI, and with it being a larger economy, has a broader range of industries,
which allows for a wider impact on sustainability practices. However, NI has
its own unique industries, such as agri-food, tourism, and renewable energy,
where sustainability efforts can be concentrated.
The UK government's policies, including the Clean Growth Strategy and
Industrial Strategy, have a broader impact on the business sector in GB.
However, NI also has its own initiatives, like the Northern Ireland Climate
Change Act and the Strategic Energy Framework, which can influence
sustainability practices in its business sector.
In line with the requirements of the Climate Change Act and the Executive’s
commitment in the draft Green Growth Strategy, the target date for publishing
NI’s first Climate Action Plan was set for the end of December 2023.
We must also factor in the current economic climate. The UK business and
economic environment is still in turmoil and so businesses’ main focus
remains on the here and now. Savanta's MarketVue Business Confidence
Index reveals a dramatic drop in Northern Ireland's business confidence for
Q3 2023, plummeting from 47 to 36.
Sustainability for business is not just a responsibility. It is also an
opportunity to create long-term value. And despite these differences and
barriers, the future for NI sustainability still looks positive, and with the
implementation of the first Climate Action Plan, we would hope to see the
take up of sustainable action increase in 2024.
savanta.com
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Are NI businesses taking more action than GB?
Savanta’s MarketVue
Business Banking
Based on a continuous survey of 15,000 financial decision
makers in UK businesses and 10 years of historical data,
MarketVue Business Banking is a highly reliable and detailed
monitor of how banks are perceived by business customers.
It is designed as a complete market overview covering
market share, trends, brand health and customer experience
to inform business strategy and provide tactical feedback for
action planning. Interviewing is conducted continuously
among a UK representative sample from start-ups, SMEs up
to major corporates throughout the year and data/insight is
delivered to clients on a quarterly basis.
Savanta is a fast-growing data, market
research and advisory company. With
five global offices and 500+ staff, we
inform and inspire our clients through
powerful data, empowering technology
and high-impact consulting. All designed
to help our clients make better decisions
and achieve faster progress.
Savanta offers clients a full range of intelligence services,
including:
Data collection and analysis – access to consumer, business, wealth
& youth respondents globally through a proprietary technology platform
Research and Insight – tailored solutions built using specialists from
Savanta’s Industry and Methodology Practices
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Proprietary tech & products – instantly access digital intelligence
about markets, brands and customers. It’s our own technology. And it’s
fast and flexible.
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Are NI businesses taking more action than GB?
Team
Stephen Palmer
EVP, Financial Services
Stephen has 25 years’ research experience across
financial services and tech and leads the financial
services team at Savanta. Prior to Savanta, Stephen
was Head of Insight at Kantar Financial Services &
Technology and responsible for delivering
customer experience, brand and segmentation
research. Stephen is a certified member of the
MRS and has sat on the standards board.
stephen.palmer@savanta.com
Ben MacGregor
Director, Client Services
Ben has spent the last 25 years working in financial
services, providing targeted support to some of the
most recognisable global brands across banking,
insurance, payments, wealth, and investment
banking. Recently that has included support across
the ESG journey – from strategies to reach Net
Zero to corporate reputation work. Ben moved to
Savanta at the end of 2021 to support the growth
of the financial services business.
ben.macgregor@savanta.com
Helen Davey
Director, Financial Services
Helen has more than 20 years’ research experience gained
agency side and has worked in the MarketVue Business
Banking team since 2016. Helen has considerable
experience in managing large scale complicated
syndicated research
helen.davey@savanta.com
Shweta Bharati
Senior Executive, Financial Services
Shweta joined Savanta with 8 years of experience
working in Market Research across all industry sectors.
She previously worked for Dynata’s India Operation;
mainly specialising in quantitative projects. She has a
BSc (Hons) degree from Patna University in
Biotechnology and a Masters in Business Management
from JRE College of Institutions.
shweta.bharati@savanta.com
Philippa Whitham
Senior Director, Financial Services
Philippa has more than 20 years’ research experience
gained agency side and has worked in the MarketVue
Business Banking team since 2014. Philippa has
considerable experience in managing large, complex
continuous research programmes, with particular
expertise in customer satisfaction.
philippa,whitham@savanta.com
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