New research shows rise in firms pursuing ‘green growth’ strategies

A joint study conducted by East Midlands Chamber and the University of Derby’s Derby Business School has found a rise in the number of firms in the region adopting ‘green growth’ strategies.

The results of the research have been released ahead of East Midlands Sustainability Summit, which is due to take place at the university on 12 September.

Green growth is defined as achieving economic growth without negatively impacting the environment.

The Green Growth study found that the number of businesses across the region who have made income from environmentally friendly goods and services increased 7% over the last year to 43%.

It also found that three quarters of large businesses and half of small and medium-sized businesses aim to achieve green growth, against four in ten micro firms.

The Green Growth research findings are among a number of areas that will be addressed at the sustainability summit, presented by East Midlands Chamber in partnership with the University of Derby.

With the aim of addressing “climate fatigue”, the summit will bring together industry specialists, academics and the region’s business community to explore how to change working practices to tackle climate change.

Richard Blackmore, director of policy and insight at East Midlands Chamber, said: “The findings from the Green Growth study undertaken by the chamber in collaboration with the University of Derby are helpful in highlighting not just what businesses have already achieved in their journey toward Net Zero but also the bumps in the road ahead.

“With this research clearly indicating how the size of a business correlates with their preparedness for climate change, the need to get businesses together to unpick these challenges is really underlined.

“The wide range of speakers on the day will spark insightful discussions that will be of great benefit to the East Midlands business community.”

Among the speakers will be Dr Polina Baranova, associate professor of strategy and sustainability at the university’s Derby Business School.

She said: “We’re seeing encouraging indications of Green Growth in the East Midlands.

“Nationally and in this region, there’s been quite a bit of political uncertainty about the level of support a business can get toward its Green Growth journey, so with that in mind, it’s good to see that businesses in the East Midlands are investing in Green Growth to be more sustainable.

“While figures like three quarters of large businesses adopting Green Growth in the East Midlands can only be a good sign, we need to go further on this journey.

“It’s notable that the number drops the smaller a business is, with only one in four micro-sized businesses pursuing Green Growth.

“The East Midlands Sustainability Summit is a fantastic opportunity to explore these challenges with the business community and I look forward to sharing my insight into how the difficulties can be overcome.”

To attend the East Midlands Sustainability Summit visit https://www.emc-dnl.co.uk/events/east_midlands_sustainability_summit_20242290913094/ .