NatWest has introduced a digital carbon planner designed to assist UK businesses in managing future fuel and operational expenses while promoting sustainability.
This innovative tool delivers tailored actions based on individual customer data, enabling companies to make informed decisions as they aim to lower their carbon emissions. It also highlights the financial implications of implementing these initiatives.
Research conducted by NatWest indicates that 72% of businesses anticipate facing increased challenges due to inflation, with 56% citing rising energy and material costs, and 37% pointing to higher interest rates. Additionally, the bank projects that by 2030, 55% to 70% of business cases aimed at reducing emissions will be financially viable for SMEs. Notably, 87% of UK SMEs remain unaware of their total carbon emissions.
Solange Chamberlain, the COO for commercial and institutional banking at NatWest, stated, “Businesses are increasingly burdened by escalating costs. While many remain fundamentally strong, they are grappling with significant shocks to input prices. As a financial institution, we are positioned to assist these businesses in making investments that lead to savings. By transitioning from volatile commodities to renewable sources with stable pricing, we can support companies in measuring, evaluating, and actively reducing their environmental impact.”