Sustainable Future_Are NI businesses taking more action than GB

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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 6
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 savanta.com 7
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Sustainable Future_Are NI businesses taking more action than GB

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