More than half of the UK’s SMEs have invested in environmental sustainability over the past 12 months.
This shows a significant increase compared to less than 20% during the previous financial year, from new research carried out in March.
Finance firm Aldermore surveyed 997 senior decision-makers at SMEs across the UK.
The research covered all major economic sectors and geographical regions, and the company released its findings on 20 June 2022.
Overall, 53% of the survey respondents said their company has made an investment in environmental sustainability within the past 12 months.
The average spend in this area was £61,250. The survey also revealed most businesses plan to either maintain or increase spending on environmental sustainability this financial year.
This new comes despite potential cost increases for their utilities, raw materials and products.
Aldermore estimates that, on average, the businesses in this survey will spend almost £78,400 on sustainability-related activities this financial year.
This represents a year-on-year increase of 27%.
For more insight into SMEs and their approach to sustainability, read the edie news report here.