Where Are The Sustainability Targets?
Less than half (43%) of UK mid-sized businesses have sustainability targets, such as for net zero, in place, according to data from the Grant Thornton International Business Report.
However, while many of the UK businesses surveyed have still not implemented core steps on their sustainability journey, they are outperforming the global average in several areas including:
60% have implemented a sustainability strategy (51% globally).
46% have implemented sustainability reporting (40% globally).
28% have implemented a sustainability policy (25% globally).
The research finds that there are numerous challenges facing UK mid-sized businesses when complying with sustainability regulation. The top concerns are:
The speed at which requirements change.
The capital investment.
Understanding the requirements for different jurisdictions.
Three quarters of the businesses surveyed, in the UK and globally, agreed that the need to navigate and understand the sustainability requirements of different jurisdictions is a barrier to international business expansion.
