For businesses everywhere, the bottom line is the bottom line. Green grants and funds are there to help you push through this boundary.
Time and time again across sectors, surveys suggest that the biggest barrier to sustainability is perceived or actual costs. This means that costs are important when discussing zero carbon. If it doesn’t make sense financially, businesses can’t make the change.
Despite this, however, people do value sustainability alongside profits - in one study on the manufacturing and retail industries’ supply chains, 60% value sustainability and profitability equally.[1] It’s also good to know that sustainable practices do bring financial benefits and make financial sense: investing in low carbon technology can increase property value according to a recent report by WWF, and using locally sourced materials can cut transport costs.
Even still, any additional initial investments or risks may be off-putting. When there is an investment in new skills or products or to help you invest in new fleets, funding can help you get your feet off the ground.
That’s why green grants and funding are here to help make it easier for your organisation to become more sustainable. According to the UK Government, they are offering almost £5 billion of funding to help UK businesses accelerate their sustainable journey.[2] With this in mind, funding calls and grants are always changing so it’s important to stay up to date.
Grants for zero carbon
Green grants and funding are here to help make it easier for your organisation to become more sustainable. According to the UK Government, they are offering almost £5 billion of funding to help UK businesses accelerate their sustainable journey.2 With this in mind, funding calls and grants are always changing so it’s important to stay up to date.
Here are some current funding opportunities which you might find helpful:
1. Low Carbon Manufacturing Challenge Fund | Scottish Enterprise
If you’re looking to grow your Scottish manufacturing business through developing low carbon products, processes or services, you can apply for the LCMCF grant through Scottish Enterprise. Funding will be made available until 31 March 2026. Learn more.
2. Skills and Training Fund | CITB
You need to have the skills in your workforce to implement new sustainable practices. The Construction Industry Training Board’s Skills and Training fund helps construction companies deliver learning and development experiences to their employees. Two funds exist: one for micro and small companies, and one for medium sized companies. Both can be used to develop green skills. Find out more.
3. Green Home Finance Accelerator | UK Government
Innovation funding for development of green finance products which can enable uptake of home energy efficiency and low carbon heating measures. Read here.
4. The RTO Growth Fund | Innovate UK EDGE
Innovative, ambitious businesses can benefit from the facilities and expertise provided by Catapults and Research & Technology Organisations (RTOs) through Innovate UK EDGE. Find out more.
5. CO2 Utilisation Challenge | Scottish Enterprise
This challenge supports Research and Development (R&D) to assist companies in developing technology that will lead to new commercial uses for CO2, and the creation of jobs, as part of Scotland’s journey to a low carbon economy. Learn more.
Finding other funding
Funding can be fragmented, hard to find and always changing, so it’s good to keep your eyes peeled. On top of these opportunities listed above, general funding directories exist, such as UK Government’s guidance on green funding, the Innovation Funding Service and Scottish Enterprises’ Funding Information and Support Service (FISS). Take advantage of these services to help you grow your business while going green. Again it’s important to speak to people, sign up for bulletins and do research locally. If you’re sure of where to start or how to navigate the often-daunting world of grants, a member of our team would be happy to help.
Many organisations are also engaging in innovation without realising it, including engaging in new sustainable practices. This might make you eligible for Research and Development (R&D) tax relief so bare that in mind when developing something new.
If you keep looking for the new financial incentives available, you’ll be in a better position to take the next big step for your company sustainability – and its growth.
References
[1] Sustainability: The missing link is a report written by The Economist Intelligence Unit www.impact.economist.com/perspectives/sites/default/files/llamasoft_report_-_report_digital_2_2_0.pdf
[2] Find funding to help your business become greener www.gov.uk/guidance/find-funding-to-help-your-business-become-greener
Written by Sarah Buchanan, Built Environment - Smarter Transformation
