- NatWest offers new digital tool to help UK’s 5.5 million small businesses to save on their energy bills while reducing their emissions
- The new tool will provide business owners and managers with tailored recommendations on everything from installing solar panels to getting a low-carbon heat pump
- Recommendations include estimated costs of low carbon improvements, return on investment and help to source suppliers
NatWest has today 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 20241.
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 emissions2. 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 20303.
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 recognised as a leading lender to the UK renewables sector over the past 10 years4. The bank 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 20255.
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 programme 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 at https://natwestenergyhelp.perse.io/
