Sustainable Future_Are NI businesses taking more action than GB
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<strong>Are</strong> <strong>NI</strong> <strong>businesses</strong> <strong>taking</strong> <strong>more</strong> <strong>action</strong> <strong>than</strong> <strong>GB</strong>?<br />
Sustainability matters<br />
to <strong>NI</strong> <strong>businesses</strong> – but<br />
current take up is low<br />
While recognising the significance of<br />
integrating sustainable practices into<br />
<strong>businesses</strong> in Northern Ireland, it<br />
appears that they may not prioritise it to<br />
the same extent as <strong>businesses</strong> in Great<br />
Britain. Notably, a substantial 45% of<br />
<strong>businesses</strong> in <strong>NI</strong> have yet to take any<br />
sustainable <strong>action</strong>.<br />
Why might this be?<br />
The <strong>GB</strong> business sector is significantly larger and <strong>more</strong> diverse compared to<br />
<strong>NI</strong>, and with it being a larger economy, has a broader range of industries,<br />
which allows for a wider impact on sustainability practices. However, <strong>NI</strong> has<br />
its own unique industries, such as agri-food, tourism, and renewable energy,<br />
where sustainability efforts can be concentrated.<br />
The UK government's policies, including the Clean Growth Strategy and<br />
Industrial Strategy, have a broader impact on the business sector in <strong>GB</strong>.<br />
However, <strong>NI</strong> also has its own initiatives, like the Northern Ireland Climate<br />
Change Act and the Strategic Energy Framework, which can influence<br />
sustainability practices in its business sector.<br />
In line with the requirements of the Climate Change Act and the Executive’s<br />
commitment in the draft Green Growth Strategy, the target date for publishing<br />
<strong>NI</strong>’s first Climate Action Plan was set for the end of December 2023.<br />
We must also factor in the current economic climate. The UK business and<br />
economic environment is still in turmoil and so <strong>businesses</strong>’ main focus<br />
remains on the here and now. Savanta's MarketVue Business Confidence<br />
Index reveals a dramatic drop in Northern Ireland's business confidence for<br />
Q3 2023, plummeting from 47 to 36.<br />
Sustainability for business is not just a responsibility. It is also an<br />
opportunity to create long-term value. And despite these differences and<br />
barriers, the future for <strong>NI</strong> sustainability still looks positive, and with the<br />
implementation of the first Climate Action Plan, we would hope to see the<br />
take up of sustainable <strong>action</strong> increase in 2024.<br />
savanta.com<br />
savanta.com 7
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