Written question WQ85779

As a result of the emergency support packages we put in place in the New Year, the Welsh Government withdrew its £35m Business Support Fund, announced in November, in order to process emergency payments as soon as possible.

The Economic Contract remains a key element of our engagement with Welsh businesses to drive socially responsible business practices and a requirement for those seeking direct financial support from the Welsh Government.

The refreshed contract reflects current priorities:

• Economic strength and adaptability

• Fair Work

• The promotion of wellbeing

• Low carbon and climate resilience

We are in the process of:

• Procuring an evaluation of the contract to help us understand its impact and make further improvements;

• Establishing an internal group of those who develop and negotiate the contracts with businesses to improve the outcomes from contracts; and

• Putting in place a standards framework to set clear economic contract expectations for the businesses we support.

Our remit letter for the Development Bank of Wales (DBW) sets decarbonisation as a policy priority as the bank supports businesses transition towards net zero. We have allocated financial transaction capital allocations for the bank to support these potential new schemes. In addition, DBW manages a broader range of funds, all of which can support decarbonisation activities: https://developmentbank.wales/

Business Wales provides a range of business advice, information and signposting together with specialist advice, including decarbonisation. In addition, our Business Wales website has a Business Finance Zone offering specialised guidance and information to help people identify appropriate finance, as well as a Finance Locator https://businesswales.gov.wales/businessfinance/

Business Wales has specialist Resource Efficiency advisers that help Welsh businesses implement new practices and improve policies to take pro-active steps towards improving their sustainability, demonstrating their positive impact on the environment.

Businesses can contact the Business Wales helpline to explore the various support options available. It is available Monday to Friday from 10am to 4pm. The team can be reached by calling 03000 6 03000 or by visiting https://businesswales.gov.wales/contact-us

The Green Growth Pledge reaches out to SMEs to take practical actions, such as reducing vehicle use, increasing water and energy efficiency, and working with responsible suppliers that will help companies become more efficient, decarbonise and win new business. We are also working with the Wales TUC to provide additional support to union representatives in the workplace who want to join the expanding network of environmental or green representatives across the country. Additional funding to provide the necessary training has been made available this year.