Chamber survey gives insight into progress on business sustainability Research carried out by Chamber’s IOM Business Sustainability Group| June 2022

60% of Isle of Man businesses have seen an increase in staff engagement since implementing a sustainability policy, but only 36% have calculated their carbon footprint.

Date: Thursday 30 June 2022

Those are two of the main headlines from a survey carried out in June by the Isle of Man Business Sustainability Group which is a Chamber of Commerce sub-committee. The Group was launched earlier this year as a task force to help businesses achieve net zero emissions targets. The survey gathered feedback from 89 respondents drawn from 18 business sectors, ranging from 21 companies that have 100 employees or more, to 12 who are self-employed.

 

Survey data identified the top four sustainability challenges faced by businesses are making property/buildings more sustainable, resources, financial restraints, and lack of government support. Contrary to widespread belief that sustainability is very costly, 43% of businesses noted cost savings as a result of having a sustainability policy. While 60% of respondents said their businesses had noticed increased staff engagement, 23% reported that policies had not been in place long enough to see any significant changes in engagement. Progress on that issue, and many others, will be tracked via future surveys that the Businesses Sustainability Group is planning to conduct in the months and years ahead.

Group Chair Ralph Peake said the purpose of the research was to provide data that will give an accurate assessment of the progress that businesses here on the Island are making. “Our June survey is an important step in our ongoing work to evaluate where businesses are at right now, what more needs to be done, and what the Group can do to help.”

The Group has only been running for three months, but it is already having a tangible impact on progress towards net zero by providing a forum to share knowledge, experience, and best practice. One example is Capital International Group which has shared its expertise about carbon auditing.

Nancy Shefford, Capital International’s representative on the Business Sustainability Group, explains: “As a result of sharing our business’ experience with carbon auditing, we are now partnering with the Chamber of Commerce to help other companies with one of the most important first steps for businesses to take when tackling sustainability. A carbon audit can be a difficult thing to understand or calculate. At Capital International we have undertaken a carbon audit for a couple of years to establish a good picture of what our carbon contribution is, and through this we have been able to identify the areas that need the greatest attention. This then helps to establish plans and ideas for our future. If we can reach out to a wider audience and assist others with calculating their carbon audit, we can all work together towards reducing carbon emissions.”

Click here to find out more about the Business Sustainability Group (including how to join) or here for details about joining Chamber and the benefits of membership.

www.iomchamber.org.im