Tide joins net zero initiative

The initiative aims to find solutions for accelerating progress towards a net zero carbon world, financing a green recovery from the current crisis and a net zero transition across the entire UK economy.

Bankers for Net Zero will encompass collaboration across business, finance and government, to explore how the banking sector can help businesses in transitioning to net zero and work with other stakeholders to ensure policy, regulation and finance are all playing their part in enabling key industries of the UK economy to recover and transform themselves.

Involvement in this initiative is part of a wider focus on sustainability at Tide. The business banking platform is focussed on providing clear and practical ways for SMEs to transition towards net zero. This is likely to involve new product features, and expert advice to help SMEs understand how they operate more sustainably.

Oliver Prill, Tide CEO said: "We are delighted to have joined the Bankers for Net Zero initiative and see it as a very important project to help UK businesses move towards a more sustainable future as we emerge from the COVID-19 crisis. At Tide, we are particularly excited to work with participants across the business banking sector to come up with very practical ways that small businesses can reduce their carbon footprint and reach for a Net Zero carbon status."

The net zero initiative will sit alongside Tide’s commitment to supporting women in business. In April 2019, Tide committed to supporting 100,000 women in starting out in business by the end of 2023 and is on track to meet this target.