NatWest has launched an Energy Help and Support tool to help UK businesses reduce their energy usage, cut their carbon emissions and potentially “save money on their energy bills this winter.”
Research from the bank has found “that 45% of small businesses say rising energy prices will be a significant challenge in 2024.”
NatWest’s new digital solution enables the UK’s 5.5 million businesses “to review their premises’ energy efficiency and access tailored recommendations which could help reduce their energy costs and carbon footprint.”
The tool uses a business’ postcode to “offer detailed information on everything from solar panels to low-carbon heat pumps, including estimated costs and help to source suppliers.”
The support is particularly aimed “at small to medium sized businesses, which account for around 30% of the UK’s emissions. Research from NatWest has found that with the right support, up to 70% of business cases to reduce emissions will make financial sense for SMEs to deliver by 2030.”
James Holian, Head of Business Banking at NatWest Group, said:
“From our own research 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. Whether it’s installing solar panels or fitting a low-carbon heat pump, the support will help firms understand the estimated costs and return on investment of the changes. Together, this can enable business leaders to make well informed decisions for their business, both financially and for the planet.”
NatWest Group has been externally recognized “as a leading lender to the UK renewables sector over the past 10 years.”
The bank says that it is “committed to supporting the investment needed to help the UK to transition to a net zero economy and has targeted providing £100 billion of Climate and Sustainable Funding and Financing by the end of 2025.”
The new tool follows NatWest’s recent “launch of a free retrofit learning platform for the UK’s construction industry in partnership with the Supply Chain Sustainability School. The retrofitting training program will input skills into the supply chain and accelerate the growth of the retrofit market.”
NatWest is the school’s first banking partner and “will promote learning with customers and the wider construction industry.”
The free tool to assess your business’ energy efficiency and access tailored recommendations can be found here.
