NatWest is committed to advancing its £100 billion Climate and Sustainable Funding and Finance initiative by equipping small and medium-sized enterprises (SMEs) with essential tools through its online Climate Hub. This platform is designed to support SMEs in adopting environmentally-friendly practices.
The NatWest Climate Hub offers eligible SMEs guidance on obtaining green loans and financing for sustainable assets, focusing on clean buildings, energy solutions, transportation, and agriculture. The goal is to empower businesses to undertake sustainable projects that contribute to the fight against climate change and ultimately reduce carbon emissions.
Addressing the challenges faced by SMEs, the Hub consolidates resources, products, and services tailored to the insights garnered from NatWest’s ‘Springboard to Sustainability’ report. This initiative aims to raise awareness among SMEs about the financial advantages associated with transitioning to net-zero operations.
Via the Climate Hub, SMEs can explore NatWest’s offerings, including green loans and asset financing solutions. The Hub also provides access to information about the bank’s accelerators, which connect SMEs with regional centers to help them capitalize on new business opportunities. Furthermore, it features updates on the upcoming pilot of NatWest’s carbon tracker app, set to launch in February 2022, with participation from 500 SMEs in the manufacturing and transportation sectors.
Paul Thwaite, CEO of Commercial Banking at NatWest, emphasizes the vital role SMEs play in addressing climate change. “SMEs are crucial to the UK’s green ambitions,” he states. “While there is a strong desire among these businesses to reduce emissions, they often encounter hurdles such as limited information, funding, and training.”
Thwaite adds, “Our goal is to support UK small businesses in their efforts to lower emissions and capitalize on the opportunities presented by a transition to a green economy. Even minor adjustments can lead to significant impacts.”