NatWest and Cogo have joined forces to create a toolkit to help build carbon literacy among SMEs and guide them through the carbon disclosure process.
Free to access for anyone, the toolkit has been created to support all SMEs regardless of their level of carbon literacy.
Two-thirds of SMEs worry that they don’t have the skills to tackle the climate crisis*, yet despite this there is increasing pressure on supply-chain SMEs to disclose their carbon footprint to large corporations they supply to due to mandatory scope 3 emissions reporting**.
The topics covered within the step-by-step toolkit include:
Benefits for SMEs that engage with carbon management
Getting started with carbon emissions and creating an emissions inventory
Getting started with setting targets and making public commitments
Creating action plans to reduce your emissions and achieve your target
Disclosing your ambitions and progress on carbon management
Evaluation of your carbon management
The toolkit is the first of a series of tools that NatWest and Cogo plan to launch to support SMEs.
James Close, Head of Climate Change at NatWest Group, said: “As the UK’s biggest bank for business we want to help SMEs to tackle climate change and unlock the opportunities of a sustainable economy. NatWest research shows that SMEs that harness the net zero opportunity could generate a £175 billion plus revenue opportunity by 2030 and if given the right support, could contribute up to half of the UK’s 2030 emissions targets.
“We know that it can be difficult for small businesses to know where to start, which is why we want to help them to navigate that complexity and arm them with the resources they need to report their carbon emissions and grow their businesses. This step-by-step guide will support supply chain SMEs to build a plan of action to measure, report and reduce their carbon emissions, so they are able to make the most of the opportunities presented by the transition.”
Emma Kisby, Cogo CEO, EMEA: “As the backbone of the UK economy, SMEs play a critical role in tackling the climate crisis. It is therefore imperative that we take the stress and complexity out of carbon reporting for SMEs as we know they are already time, resource and often budget poor. That is why we’ve joined forces with our partner, NatWest, to create this easy to use toolkit for SMEs to follow when disclosing their carbon emissions to larger corporations. We’ve taken our expertise in carbon footprint measurement and reporting and made it into a digestible guide which aims to make the complex simple.”