NatWest has announced two new partnerships with energy experts Perse and Absolar to support businesses in switching to more renewable energy sources.
The partnership follows research conducted by the bank in 2021 which found that small and medium-sized enterprises (SMEs) could deliver half of the UK’s carbon reduction ambition with the right support and that decarbonisation would incur financial benefits for 70% of businesses by 2030.
Despite this, a separate survey conducted by NatWest revealed that less than 10% of SMEs see climate action as a source of future growth which means they are less likely to invest in renewable technologies.
“As the UK’s biggest bank for business, we know that many business owners want their companies to be more sustainable, but find it difficult to know where to start. We want to help business owners navigate this complexity and connect them to resources and insights so they can both help tackle climate change and grow their businesses,” said James Holian, head of business banking at NatWest.
“That’s why we are proud to launch these new partnerships. Through these, we look forward to giving businesses the tools they need, both to save money and to decarbonise their operations.”
Through its partnership with the open energy platform Perse, the bank will help businesses identify the low-carbon technology best suited to them whilst also providing access to free and personalised energy usage reduction strategies.
According to the bank Perse has already saved its customers £1 million.
Jane Lucy, co-founder and CEO of Perse, said: “At Perse, we are proud to join forces with NatWest to help businesses unlock new energy savings, boost resilience and generate tangible carbon reduction. Our personalised recommendations and expertise enable businesses to focus on the right measures for them.”
“Through this partnership, we look forward to empowering even more businesses to embrace sustainable practices and achieve their energy efficiency and financial goals.”
NatWest’s partnership with solar surveyor Absolar on the other hand will allow businesses to use Absolar technology to capture solar potential on their premises (this can be done remotely) and receive savings estimates for installing solar panels.
Nic Cory, director at Absolar, added: “We are delighted to partner with NatWest in their commitment to helping businesses access the potential of solar energy. Through our innovative technology, we aim to provide a wider audience of businesses with quick and accurate assessments of their solar potential, allowing data-led and informed decisions about investing in solar power. By highlighting the significant cost savings and environmental benefits together with providing certainty of investment costs, we can accelerate the transition to a greener future and drive financial success for businesses.”
NatWest is also part of the UK Government’s Net Zero Council, which had its first-ever meeting in May this year.