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Sustainable Finance

Green initiatives for business

What are sustainable business practices?

Being a sustainable business means thinking long-term and adopting practices that support the wellbeing of our planet.

Adopting green practices is crucial in tackling climate change, and it could also help your business be more efficient and gain positive recognition from customers and investors.

This could start with small changes and build up to more ambitious plans.

Joining the UK business climate campaign is a great way to start. And here are some practical steps to begin with.

Green initiatives for businesses

Cut running costs

There are many ways your business could reduce daily running costs which align with sustainable practices.

Move to renewable energy

Moving to renewable energy is key to tackling climate change. This could start by finding out where your energy comes from and moving tariffs or suppliers.

Choose environmentally friendly suppliers

What’s the climate impact of the investments we make and the money we spend? Our decisions could make a difference.

Track your carbon and energy usage

Understanding your business’s carbon footprint is the key to reducing emissions and finding ways to be more energy efficient.

Recycle and manage waste sustainably

Committing to recycling and avoiding single-use plastics are simple steps that could go a long way.

Go paperless

Going paperless cuts down on waste and leaves more trees in the ground. Digital alternatives could also be cheaper.

Adopt smart technology

Using the latest technology could help reduce costs and lower your carbon footprint:

  1. Lighting, heating and electronics could be controlled by sensory devices and automatically switched off when not in use
  2. Smart meters allow you to monitor water and energy usage, while also helping to identify areas for energy-efficiency improvements
  3. Having some element of remote working means less carbon emitted through transport, and digital tools like Zoom, Teams and Mural, make it easy to work effectively as a team online.

Ofgen, the UK’s energy regulator, has more information about smart meters and other energy saving technologies:

Learn more about smart meters

Three ways to stay informed

Sharing knowledge and creating a culture of environmental awareness in your business is a great way to make progress.

Climate is an evolving topic. The amount of info out there could be daunting, so having a few good sources to draw on is handy:

  1. The UK business climate campaign is a really useful reference point
  2. Cut through the complexity with our webinars and articles and the climate modules in our Business Builder toolkit
  3. Build connections with green groups and businesses, and become part of a growing green network. Our Business Builder network is a great starting point and the UK’s sustainable business network is free to join.

How we could help with your green initiatives

We’re here to help with your green initiatives and climate goals. We could provide support in the form of lending, advice and useful services and resources. Find out more about green banking with us below.

Championing climate solutions

At Royal Bank, we're setting ourselves the challenge to at least halve the climate impact of our financing activity by 2030.

Something else we can help you with?