Zero Carbon Electricity – What’s In It For My Business

Bryt Energy
| 22nd May 2024 | Energy Renewables

Many businesses are switching to renewable electricity because they believe that decarbonising their operations wherever possible is simply the right thing to do. Here at Bryt Energy, we wholeheartedly agree!

With the energy supply sector contributing to over 24.8% of the UK’s overall carbon emissions in 20221, opting for a zero carbon, fully renewable electricity supply is a simple and effective step that businesses can take to reduce their carbon footprint*. What organisations may not realise, however, is that switching to zero carbon electricity can also bring a whole host of other sustainable and reputational benefits to their business.

Let’s take a look at some of the other business benefits associated with a zero carbon supply:

DO YOU WANT TO EXPAND YOUR CUSTOMER BASE?

In 2024, customers actively want brands to embrace sustainable and people first-practices; last year, a report found that 84% of consumers consider sustainability as a very important factor in their purchasing decisions2 – so, if your business isn’t focused on reducing its carbon footprint, you could risk losing people along the way.

Customers are also increasingly savvy when it comes to ‘greenwashing’3 – where companies claim to have ‘green’ credentials in their marketing, but don’t take real action to reduce their impact on the environment. Greenwashing could seriously harm your business’ reputation, so it’s crucial to support any sustainability claims you make and to be transparent.

Switching to a zero carbon electricity supply can be a great way to show that you’re committed to reducing your emissions. Plus, with more and more companies obliged to report on their carbon emissions through schemes such as the Streamlined Energy and Carbon Reporting (SECR) scheme, it can be an important first step.

DO YOU WANT TO ATTRACT THE BEST CANDIDATES TO YOUR ORGANISATION?

Placing a strong emphasis on sustainability is crucial in attracting and retaining bright, young talent in your organisation. With the younger generations of the workforce becoming more value-driven, sustainability concerns undoubtedly influence the types of roles and companies they choose to work for. In fact, last year, 55% of Gen Zs and 54% of millennials said they research a brand’s environmental impact and policies before accepting a job from them4.

With the number of Gen Z and millennials in the workforce continuing to grow, you need to ensure you can demonstrate your commitment to sustainability – and switching to zero carbon electricity is a great starting point.

ARE YOU SEEKING INVESTMENT?

If your business is seeking funding from investors, then switching to a zero carbon electricity supply could be a great way to boost your business’ investment appeal. Investors are increasingly using Environmental, Social and Governance (ESG) criteria when considering whether to invest in a business – examining how a business impacts the environment and the wider society it operates within.

The Morgan Stanley Institute for Sustainable Investing found that over 70% of investors believe that strong ESG practices can lead to higher returns, while over half of those surveyed plan to increase their allocations to sustainable investments in 20245. By showing your commitment to your sustainability values by switching to zero carbon electricity, you’ll put your business in the best possible position to secure investment and progress towards your financial goals, all while making an important contribution to the UK’s wider net zero energy transition.

DO YOU FIT INTO A SUSTAINABLE SUPPLY CHAIN?

With businesses increasingly realising the value of sustainability, those at the top of the supply chain aren’t just looking to reduce the carbon emissions they create directly. Many are now also focusing on their Scope 3 emissions, which cover all the indirect emissions that occur within an organisation’s supply chain.

So, if you’re looking to stand out from the competition when buyers are seeking suppliers, then you need to focus on reducing your own emissions as much as possible. Not only can this make your business more appealing to potential customers, but many of them will be committed to various emissions reporting frameworks for their supply chains, and may ask you to disclose your emissions under these. Simple and proactive changes, such as considering a switch to a renewable electricity supply, can open new doors, helping your business to embrace new opportunities with those who hold values similar to your own.

MAKE THE SWITCH TODAY

At Bryt Energy, we only supply zero carbon, 100% renewable electricity, sourced solely from solar, wind, and hydro power*. This means that our customers are able to report zero carbon emissions for their electricity consumption in Scope 2 under the Greenhouse Gas (GHG) Protocol market-based method* – which could make a substantial difference to your carbon footprint and help you to access all of the benefits we’ve mentioned above.

Wondering how much difference zero carbon, 100% renewable electricity* could make to your business? Get in touch with our team of experts to learn more, and take the next step on your sustainability journey.

Sources
  1. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1147372/2022_Provisional_emissions_statistics_report.pdf
  2. https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-world-of-ands-consumers-set-the-tone
  3. https://hbr.org/2022/07/how-greenwashing-affects-the-bottom-line
  4. https://www.deloitte.com/global/en/issues/work/content/genzmillennialsurvey.html
  5. https://www.morganstanley.com/ideas/sustainable-investing-on-the-rise#:~:text=More%20than%20half%20of%20individual,can%20lead%20to%20higher%20returns

*Bryt Energy’s supply product has been audited and verified by an independent third party, EcoAct, to guarantee that our products are backed by Renewable Energy Guarantee of Origin certificates (REGOs). Bryt Energy manages these certificates to ensure that we have a sufficient amount in order to supply renewable power to all of our customers across a year, and therefore allow our customers to report zero carbon emissions under the Greenhouse Gas (GHG) Protocol Scope 2 Guidance. All source certification meets GHG Protocol Scope 2 Guidance Quality Criteria for market-based reporting method.

Certificates are held by energy suppliers for Fuel Mix Disclosure (FMD) purposes and Bryt Energy’s FMD represents the total amount of electricity purchased from the wholesale market to cover our portfolio of customers’ supply in given FMD year. 100% of the total amount of electricity purchased for supply by Bryt Energy during the period 2023/24 was from renewable sources. Bryt Energy purchases all electricity through our parent company, Statkraft, who procure the electricity volume to match our customers’ contracted amount from the wholesale electricity market.

Please note, all electricity to your properties is supplied via National Grid’s transmission network and local distribution networks (not directly from a renewable generator), so you will be provided with electricity from a mix of sources that the grid is being supplied with at that time from all generators – this may include fossil fuel sources.

Our full Fuel Mix Disclosure and FAQs on our products are available here. You can find our verification assurance statement here.

Back to the knowledge hub
Categories
All
Energy
Renewables
Energy Transition
Bryt Insight
Sustainability
Relevant NEWS
Statkraft’s Green Transition Scenarios 2024 
Statkraft’s Green Transition Scenarios 2024 
Read
Bryt Insight November 2024
Bryt Insight November 2024
Read
Reducing the risk of the Targeted Charging Review in 2024
Reducing the risk of the Targeted Charging Review in 2024
Read