Financial pressures and affordability woes are leaving the majority of the UK (65%) concerned over how they will meet the rising cost of living. More than a quarter (26%) are already anticipating the need to cutback at Christmas with fewer and cheaper presents. In addition, nearly one in ten (8%) are no longer hosting friends and family because they can’t afford it, according to new research from mutual life and pensions company Royal London, which is introducing new social enterprises to its Changemakers Programme.
Despite the headlines generated by COP27, which recently saw the United Nations recommit to the keeping the 1.5 °C target for global temperature rise, four in 10 (38%) think it’s too expensive to live more sustainably and a third (34%) expressed greater concern over their energy bills than climate change. While nearly a third (32%) of people say that “ordinary people like them” are responsible for helping to tackle climate change, they may be in danger of abandoning their green goals to get by this winter.
Sarah Pennells, Consumer Finance Specialist at Royal London, said: “Times are tough but now is not the time to ignore sustainability issues. Living sustainably doesn't have to cost more and some measures, such as reducing the food and heat you waste, can save money. However, many of us need a helping hand to get started. We believe that these inspiring social enterprises can provide real solutions to these issues, which is why they’ve been chosen as our Changemakers this year. We are delighted to support people who are looking at new ways to ensure that a just transition and moving fairly to a sustainable world is a possibility for everyone.”
To help bridge the gap between living sustainably while combatting the cost-of-living crisis, Royal London has announced 10 new social enterprises as part of its Changemakers Programme, now in its second year. This year’s enterprises have been chosen based on the unique solutions they provide to help people move fairly to a sustainable world and promote financial resilience. Each Changemaker will benefit from a £20,000 grant, as well as extensive business support from The School for Social Entrepreneurs, which will continue for two years. This year’s cohort include: Bristol Green Capital Partnership (BGCP), Pocket Forests, Croydon Community Energy, Community Retrofits Ireland, Remake Scotland, Circular 11, Energise Sussex Coast, Lendology , NEMI Teas and Migrateful
