In response to the challenges faced by the UK’s 5.5 million small businesses, NatWest has launched a digital tool aimed at helping SMEs reduce their energy costs and carbon emissions, particularly during the winter.
This initiative addresses the dual challenge of managing rising energy expenses and maintaining eco-friendly practices, a vital concern as 45% of small businesses cite soaring energy prices as a significant hurdle.
NatWest’s Energy Help and Support Tool
NatWest’s Energy Help and Support tool is an innovative resource for UK SMEs, focusing on improving their energy efficiency.
It provides a timely solution for businesses grappling with financial pressures while striving to uphold their environmental commitments.
This tool assesses a business’s premises and offers tailored recommendations like solar panel installations and low-carbon heat pumps. It provides a detailed analysis of costs, potential returns, and supplier sourcing.
Given that SMEs contribute about 30% of the UK’s emissions, the tool’s targeted advice – based on a business’s location – is instrumental in aiding these enterprises to effectively reduce their carbon footprint.
Supply Chain Sustainability School
In addition to the launch of the Energy Help and Support tool, NatWest is extending its commitment to sustainability through a strategic partnership with the Supply Chain Sustainability School.
Together, they are launching a complimentary educational platform focused on retrofitting within the UK construction sector; an initiative that aims to enhance the expertise of supply chain professionals and catalyse growth in the retrofit market.
Evidently, the collaboration underscores NatWest’s broader dedication to promoting sustainable practices across various industries.
“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” remarked James Holian, Head of Business Banking at NatWest Group.
Continuing, he said: “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.”
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