Climate Change: Small Businesses
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the impact of climate change on the operating costs of small and medium-sized businesses.
Answered by Katie White
The independent Office for Budget Responsibility found that the UK’s economy would decline by nearly 8% by the early 2070s, if the world warms by just below 3C this century, compared to a no climate change baseline.
That is why we are supporting SMEs to reduce costs, build resilience and access the benefits the net zero transition presents. This includes advice and guidance through the UK Business Climate Hub to help SMEs take action on their energy bills. The Willow Review found 67% of SMEs have seen reduced operational costs from taking action on sustainability.
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