Search
Close this search box.

Half of retailers see cost as barrier to net zero action, survey finds

InternetRetailing
Image © Shutterstock

New research from the British Standards Institution has found 18% of firms in the retail sector have not yet taken action to achieve net zero, with investment being a hurdle.

BSI’s fourth annual Net Zero Barometer found 51% of retail businesses said cost was a barrier to net zero action, with 36% reporting that there was a lack of available financing to invest in green technology.

The survey, of over 1,000 senior decision makers from UK businesses of all sizes and across sectors, also highlighted that retailers find it difficult to find suppliers with net zero credentials (33%). However, over half have made progress on emissions reductions within their organisation (59%).

“I am pleased to see from this research that many businesses are starting to turn net zero ambition into action,” said Scott Steedman, director-general, standards at BSI.

“However, we need to go further, and faster. Non-financial reporting will soon force businesses that don’t show leadership in their supply chains to become followers. From government, now is the moment for a clear policy environment that encourages organisations to invest and innovate towards net zero.

“We have made great progress in the last 12 months in aligning international standards with the net zero transition and disclosure requirements and we now have the opportunity to press ahead to scale up the implementation of best practices for decarbonisation across all sectors. First movers have the potential to benefit most through enhancing their own performance, building the confidence of their stakeholders and helping to accelerate our common progress towards a sustainable world.”

The newly published SustainabilityX 2024 report ranks the best-performing brands and retailers by how they share their sustainability journeys and circular services with customers.

It shows an industry moving beyond reducing Scope 1 and Scope 2 emissions, towards also reducing post-sale Scope 3.

To further illustrate the findings of the report we include four company profiles, with interviews of senior figures within the businesses discussing the sustainability journey. This includes Avon, Emma Bridgewater, Reformation and Reskinned.


Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research, click here to subscribe to the FREE newsletter sent straight to your inbox and why not follow us on LinkedIn to receive the latest updates on our research and analysis.

Read More

Register for Newsletter

Group 4 Copy 3Created with Sketch.

Receive 3 newsletters per week

Group 3Created with Sketch.

Gain access to all Top500 research

Group 4Created with Sketch.

Personalise your experience on IR.net