New research, conducted by Tide in collaboration with Connect Earth, investigated the best options for greener energy suppliers for businesses, using a variety of factors to evaluate your options.
Connect Earth collected the emissions figure that companies report, before calculating an emissions factor that considers other factors like the size of the company, the number of employees, and the type of business activities the company performs, allowing fair comparison of two or more companies’ carbon performance. After folding together the banking data and the analysis from Connect Earth, the findings offer clear recommendations about the best green energy suppliers, including Octopus Energy, Ovo Energy, Ecotricity, Good Energy, and Green Energy UK (GEUK).
Tide and Connect Earth have joined forces to find simple ways for Tide customers to reduce their carbon footprint and, at the same time, reduce costs and/or offer a better experience for their customers.
Heather Cobb, VP Member Engagement Marketing at Tide, added:
“While our main mission is to help you grow your business by giving you the best tools to manage your money, we know that our future depends on the world becoming more sustainable in all domains of life and work. With this in mind, we’re delighted to partner with Connect Earth to shine a light on the environmental impact of typical business spending.
“The green energy suppliers listed here are all making efforts to increase our use of renewable energy, while also investing in a variety of environmental initiatives. Choosing green energy suppliers also encourages a greater reliance on renewable energy sources, which may help influence policy makers and help society move to a brighter future. Of course, you’ll need to also compare how the deals of the companies mentioned stack up against your current provider, and the cost implications of switching.
“As well as helping our customers make green choices, here at Tide we are working towards being Net Zero – watch this space”.
Joshua Couchman, Data Acquisition and Strategy Manager at Connect Earth, added:
“Thanks to improvements in technology, it can be cheaper to produce renewable energy than to stick with fossil fuels. As much as $321bn and around 3 gigatons of CO2 annually could be saved with a complete switch to clean energy sources, according to analysis by Rewiring America.
“Connect Earth is an environmental data company that uses your banking data to calculate your carbon footprint. After analysing anonymised transaction data, we can see that many of Tide’s customers could save by switching to green energy suppliers”.
For more information on the research, visit: https://www.tide.co/blog/business-tips/how-green-is-your-energy/