NatWest has launched a new digital tool to help the UK’s 5.5 million small businesses to save on their energy bills while reducing their emissions.
The new Energy Help and Support tool uses a business’ postcode to provide owners and managers with tailored recommendations on energy saving activities, such as installing solar panels or getting a low-carbon heat pump.
The recommendations include estimated costs of low carbon improvements, return on investment and help to source suppliers.
The support is particularly aimed at small to medium sized businesses, which account for around 30% of the UK’s emissions.
Research from the bank has found that 45% of small businesses say rising energy prices will be a significant challenge in 2024.
James Holian, head of business banking at NatWest Group, says: “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. This new tool takes away the guesswork by offering businesses tailored recommendations to improve their energy efficiency”