Removing barriers to low-carbon UK

There has been a surging interest recently across UK business in environmentally friendly equipment and technology. In fact, research carried out by Siemens has found that one in four UK companies now measures its carbon footprint, and two-fifths of British firms have implemented carbon emission reduction initiatives.
So the willingness is clearly there to reduce carbon emissions. But, interestingly, many felt that they are being held back from investing further in low-emission equipment due to the uneven application of tax breaks, issues of affordability and the lack of product choice.
Over the next few years, there are likely to be many changes to the way the channel operates to keep pace with the country’s move towards green business. For instance, we are likely to see major changes in available products as manufacturers extend their green product ranges.
However, there seems to be an immediate opportunity for resellers to make equipment finance more easily available, so that upgrading to more environmentally friendly equipment does not mean that
customers have to absorb a major, often unaffordable, capital outlay.
Most resellers already know that such financing tools are available to help customers spread payments over a period of years, and the enthusiasm for green investment is a great opportunity for resellers to step up their point-of-sale finance initiatives.
As for my industry, we are calling for a much more consistent application of capital allowances from specific technology categories, such as vehicles, to the inclusion of all equipment categories meeting defined low-emission standards.
Removing the barriers to environmentally friendly investment requires much work and
co-operation by equipment manufacturers, vendors, financiers and government, but these efforts will have a massive impact on the greening of British business.
The full report by Siemens, entitled Our green and pleasant land, can be downloaded at:
www.siemens.co.uk/ financialservices
Peter Austin is general manager of Siemens Financial Services.