How renewable energy can benefit your business
Have you thought about how your business could benefit from renewable energy?
Earth Day is on 22 April and the theme is ‘our power, our planet’, inviting everyone to unite behind renewable energy.
This makes it the perfect time to learn how energy impacts your business and how it affects your daily life.
What is renewable energy?
Renewable energy comes from natural sources, such as the sun, wind and water. This energy is called renewable because they naturally replenish over time. Unlike coal, oil, and gas, renewable energy does not create pollution or harm the planet.
In the UK, a major source of renewable energy is wind power, as offshore and onshore wind farms generate a significant amount of our electricity. Water from rivers and the sea can also be used to create energy.
What is green energy?
Green energy is energy that can be produced from a source that causes no harm to the natural environment.
Although the terms green energy and renewable energy are often used interchangeably, there is one essential difference between them. This difference is that green energy sources, like wind and solar, generate power without polluting the environment, whereas some renewable energy, like biofuel made from crops, can still produce carbon emissions.
Green energy sources, like wind and solar, generate power without polluting the environment, making them the cleanest options for a sustainable future.
Why does this matter to businesses?
Switching to renewable energy could help your business cut carbon emissions and reduce energy costs, providing long-term savings whilst meeting growing sustainability expectations.
Many are also switching to electric vehicles, exploring battery storage, and improving energy efficiency. These changes all support your environmental targets and can strengthen brand reputation.
If you’re looking to invest in renewable energy technologies, our Renewable Energy Funding Scheme could help support your plans.
How can businesses support renewable energy?
Simple ways businesses of all sizes can support and increase their use of renewable energy are:
- using a green energy supplier or switching to a 100% renewable electricity tariff
- investing in energy efficiency on your premises by upgrading lighting, heating, and appliances, or improving insulation
- generating your own energy with solar panels or small-scale wind turbines to reduce costs over time and lower your reliance on the grid
- using electric vehicles to help reduce emissions
- choosing ethical suppliers and partners who prioritise sustainability
As well as these measures making your business greener, they might also help you comply with government regulations.
If your business owns and leases out buildings, making sure they meet the UK’s minimum energy efficiency standards is another key step towards sustainability.
How The Co-operative Bank supports renewable energy
At The Co-operative Bank, we support renewable energy in our actions and policies. This means we do not fund fossil fuel companies, but instead we support businesses focused on sustainability.
Our Environmental, Social and Governance (ESG) principles are embedded within the business every day.
Interested in making your business more sustainable?
Zellar has a useful tool to help you reduce your impact and tell your sustainability story.
As a Co-operative Bank customer, you benefit from 20% off Zellar, and Charity and Community Bank Account customers benefit from 50% off.