Sep 22, 2023
Decarbonising small businesses: too much demand and not enough supply
Although they represent the majority of businesses within the national economy, the International Energy Agency points out that they can be the most exposed to energy price rises, as they often lack the resources to decarbonise their operations and cut running costs. IEA analysis shows that, in order to limit the average rise in temperatures over the long term to 1.5C - as set out in the Paris climate accord - the world must double its annual rate of progress on energy efficiency between now and 2030. The technologies needed to make buildings energy efficient, such as solar power, heat pumps and energy management systems, already exist, with local and national governments making greater efforts to implement them. With fewer cash reserves to fuel the transition, SMEs are therefore likely to need government support to overcome the supply shortages. "Governments will have to implement supporting policies for industrial decarbonisation as they did for renewable energy generation in the early days," he says.
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