According to the study, 69 per cent of businesses have made no investment in reducing emissions and a massive 93 per cent of small firms had no system in place to measure their carbon emissions.

In response the trust are improving their Energy Efficiency Loans campaign, offering businesses interest free funds to replace equipment with greener alternatives.

Michael Rea, Carbon Trust chief operating officer says: ‘SMEs account for around 20 per cent of the country’s overall emissions so it is essential they are supported to act on climate change.

‘We are significantly increasing our interest free loans pool to help more businesses invest in new energy efficient equipment, save money and cut their carbon footprint.’

He adds: ‘We have also launched a range of new online tools designed with SMEs in mind, to help them reduce their carbon emissions and cut costs.’

The study revealed that 63 per cent of entrepreneurs were aware that they could reduce their emissions with low cost energy saving measures.