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Opportunities of the 'Race to Zero' for New Businesses

Georgia Duffee FMAAT


Committing to net zero by as early as 2030 is a pledge thousands of businesses have made with the Global Campaign Race to Zero. Influencing 120 governments and their businesses to halve emissions by 2030 and achieve net zero by 2050.


Last month HRH Prince Charles addressed Finance Leaders on how they can help tackle Climate Change as part of his Accounting 4 Sustainability initiative, established in 2004. A4S is currently asking CFO's to sign their Net Zero Statement of Support.


In May 2021 Boris Johnson invited British SME's to join the SME Climate Hub's pledge. Putting nature, people and planet first to succeed!



However what if new businesses owners took the pledge from day one?


When the "Race to Net Zero" was fully introduced to me on the Thursday of AAT Future Finance, I considered opportunities start ups may have within this global shift.


If new businesses created wealth with wellness and adopt a sustainably responsible model from the start of their business I envisage at least three opportunities:-


1 - Using 2019-20 data as an estimate, the UK economy would benefit from the impact of 113,000 new net-zero businesses created in a year.


2 - The business could be more cash rich while not investing in carbon inefficient tools. No printer, paper, shredder potentially not even a desk?


3 - It could save time and money in the future as the business would be SR ready!


Would you agree with these? Let me know in the comment section.


Register to commit to net zero here


Sustainability and Durability


Observe the business model we have adopted to navigate arguably businesses biggest challenge globally since the Great Depression. Gratefully this model is a greener one.


Embracing video conference tools instead of zooming miles around the world, for meetings over the world - is a mere drop in the ocean; for our oceans.


The power is in our hands and is easily accessible to New Business benefitting from:


1 - A 'blank canvas' to work with


2 - Time to invest in becoming net zero


3 - Remote freedom by owning less tangible assets


Work; from a space you already have. Go paperless from the start. Think about your travel.


We are all on a race to net zero, everyone in the world. Right now; we are in a global fight against something partially out of our control. Yet, Climate Change is within our control!




REFERENCES:


United Nations Framework Convention on Climate Change: https://unfccc.int/climate-action/race-to-zero-campaign Accounting 4 Sustainability

https://www.accountingforsustainability.org/en/knowledge-hub/videos/the-prince-of-wales-finance-race-to-zero.html

https://www.accountingforsustainability.org/

https://www.accountingforsustainability.org/en/activities/net-zero-activities/statement-of-support.html

SME Climate Hub

https://smeclimatehub.org/

https://smeclimatehub.org/sme-climate-commitment/

Association of Accounting Technicians (AAT)

https://www.aat.org.uk/presents/aat-future-finance-2021

Federation of Small Businesses (FSB)

https://www.fsb.org.uk/uk-small-business-statistics.html




DISCLAIMER:

My blog is my opinions and valid specifically at time of writing. Should you wish to be updated with present opinion do get in touch prior to reliance.

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