The app, developed in partnership with fintech Cogo, can be piloted with eligible SMEs within the manufacturing and transport sectors, earlier than being extra extensively rolled out.
NatWest claims that with the correct assist the UK’s six million SMEs can contribute to as much as 50% of the UK’s Internet Zero decarbonisation targets by 2030 price an estimated £160 billion in income.
SMEs will be capable to use the app to overview their transactions and estimated carbon footprint, see their estimated emissions over time, and evaluate them month-on-month. The app additionally suggests ways in which SMEs might be able to cut back carbon emissions and study extra concerning the assist out there to assist them go greener.
The SME pilot follows the profitable rollout of the carbon footprint monitoring function to retail prospects final 12 months. NatWest says that greater than 150,000 retail prospects have used the app since launch in November 2021.
Andrew Harrison, head of enterprise banking, NatWest Group says: “We all know many SMEs are uncertain about the place to start out on their sustainability journey, and lots of don’t have the time or assets wanted to know their environmental impression.
“Alternatives exist throughout all sectors of the financial system, however the transport, agriculture, and industrial sectors present essentially the most pressing and speedy optimistic enterprise instances.”
The discharge of the carbon monitoring app follows final month’s launch of NatWest’s Local weather Hub, which allows eligible SMEs – investing in clear buildings, power, transport, and agriculture – to entry data on the way to apply for inexperienced loans and inexperienced asset financing.,NatWest is to launch a carbon monitoring app for SMEs after conducting analysis which revealed that 9 out of ten companies are unaware of their enterprise’s complete carbon emissions.,
