SME decarbonisation programme secures more funding

London Business Improvement District, Better Bankside, has secured a further £252,000 from the UK Shared Prosperity Fund (UKSPF), which will allow it to continue its Southwark Climate Collective (SCC) programme, which aims to provide targeted sustainability and decarbonisation support to small- and medium-sized enterprises (SMEs) in Southwark. The funding is an appreciated boost to further the mission of supporting SMEs to become more sustainable.

Since its launch in 2023, Better Bankside's SCC has helped more than 140 SMEs to cut back their emissions with initial UKSPF funding of £653,000. With the extension of the funding, the SCC programme will be able to continue their work in supporting SMEs across four critical decarbonisation streams: energy, freight, waste and supply chains.

Through the SCC Programme, Wanstor, a logistics-heavy tech firm, has reduced its freight emissions by 80 per cent and has cut collections and deliveries by 46 [er cent through the SCC programme. It has also advocated for greener fleets with its partners.

SME Climate Hub have found that SMEs urgently need support to decarbonise their business operations, and are limited by a lack of skills and knowledge (63 per cent), funding (48 per cent), and time (40 per cent).SMEs, accounting for over 90 per cent of the business population, account for 40 per cent of the UK's non-domestic emissions, making them crucial for achieving London's net zero target.

Councillor John Batteson, Cabinet Member for Climate Emergency, Jobs and Business at Southwark Council, said: “Southwark is home to an incredibly strong business community with over 18,000 businesses and 300,000 people contributing to a thriving local economy. 95% of businesses are small or micro with fewer than 10 employees so we know they have a vital role in creating a healthier and more sustainable borough. We know SMEs across Southwark want to play their part in tackling the climate emergency but we also appreciate there are hurdles which can prevent them from doing so….
 
"The programme has shown there is lots of work that needs to be done to engage SME’s but it has also provided an excellent framework for the type of support that will allow businesses to properly embed climate initiatives into their day-to-day operations. This is just one part of the story which I am sure will continue to develop as we look to create an even fairer, greener and more resilient economy in Southwark."