NatWest is continuing its efforts to become environmentally sustainable by launching a new Energy Help and Support solution to support 5.5 million UK small and medium enterprises (SMEs).
The digital tool will help SMEs save on energy bills and reduce carbon emissions by providing owners and managers with recommendations on energy saving measures, such as low-carbon heat pumps and solar panel installation.
SMEs will be able to review their location’s energy efficiency to help further reduce their carbon footprint all whilst being granted tailored solutions to achieve this.
Additional benefits of the Energy Help and Support also include access to NatWest’s carbon calculator and a bundle of source suppliers to help return on investment.
Head of Business Banking at NatWest, James Holian said: “We know that many businesses stand to benefit financially from reducing their carbon footprint. Yet most lack the support needed to make the necessary changes.
“This new tool takes away the guesswork by offering businesses tailored recommendations to improve their energy efficiency
“Together, this can enable business leaders to make well informed decisions for their business, both financially and for the planet.”
NatWest revealed that 45% of SMEs believe rising energy prices will be a significant challenge for the year ahead, with 30% of small businesses accounting for 30% of the UK’s total carbon emissions.
The research further highlighted that up to 70% of businesses, with sufficient support, could reduce their carbon emissions by 2030, with NatWest aiming to fund up to £100bn in sustainable energy funding by 2025.
The UK bank reduced its own emissions by 26% in 2022 and increased its renewable electricity consumption by 98% globally.