When it comes to considering becoming
‘greener’ and making our businesses eco-friendlier, many people believe it will
cost them the world. If anything, not becoming
greener will cost us the world eventually.
Though there are many low cost and free
methods of making your business more environmentally friendly, if you’re
wanting to sustain your business and start your green journey, there are some
government grants and funding available that you may want to see if you’re
eligible for. In this article, we will outline what funding is available to
help your business become greener.
Why are businesses going
More and more businesses across the UK are
turning to more carbon conscious solutions throughout their business practices.
This means an increase in things such as using a Microsoft Teams phone system for remote meetings, rather than requiring
attendees to travel using planes, trains, buses, and cars, and taking their
conferences online as part of a webinar event.
When the United Nations unveiled its
‘Race to Zero’ campaign, a worldwide initiative aimed at reaching net-zero carbon emissions
by 2050, a handful of UK businesses took upon the challenge. Going green may
help organisations save money by lowering energy costs, enabling them to
qualify for green tax credits, increasing operational efficiency, and
incorporating circular economy principles.
becoming eco-friendly is more than that, everyone is encouraged to go green to
protect our planet from the man-made effects of global warming and climate
change that we humans have created over several generations. Businesses that
encourage ‘green’ values and eco-friendly practices boost their brand
reputation as a result. And while it was many of the bigger businesses that
were initially part of the Race to Zero campaign, the government has begun
offering funding to small and medium-sized businesses wanting to embark on
their green journey.
funding for businesses
As part of the government’s aim to achieve
net-zero emissions by 2050, about £5 billion in government grants is available
to assist UK businesses in becoming more environmentally friendly.
Energy Transformation Fund (IETF) Phase 2
The current government funding opportunity
available is the Industrial Energy
Transformation Fund phase 2, which is a funding competition. This is a £70 million funding grant
dedicated to economic and engineering studies, as well as the implementation of
industrial energy efficiency and deep decarbonization projects in the UK.
Zero Hydrogen Fund
The NZHF aspires to facilitate the commercial
deployment of innovative low-carbon hydrogen production projects throughout the
2020s. Strand 1 funds front-end engineering design and post-FEED investigations
for new low-carbon hydrogen generation plants. Strand 2 offers funding for new
low-carbon hydrogen production plants that will be operational in the early
Hydrogen Accelerator Programme
The Industrial Hydrogen Accelerator Program
funds initiatives that show end-to-end hydrogen fuel switching in industrial
Unfortunately, these are the only three current government grants
they may not all be guaranteed. But having had many successful funding grants
in the past, and the year 2050 still many moons away, the government is bound
to be releasing many more grants and funding opportunities for businesses
wanting to become green in the future.