NatWest announces partnership for greener, cheaper business energy

NatWest has announced a strategic partnership with energy experts Perse and Absolar which aims to help businesses with their energy expenses and transition towards a greener future.

The high street bank is addressing energy usage reduction, cost-cutting, and decarbonisation as part of its climate change plan.

The journey to a greener UK

Research conducted by the bank has revealed that small and medium-sized enterprises (SMEs) in the UK have the potential to achieve half of the country’s carbon reduction targets. 

NatWest, in partnership with Perse, is taking proactive steps to guide businesses on their journey to achieve net-zero emissions. Through this collaboration, businesses gain access to personalised and free recommendations for reducing energy consumption. 

Perse has already enabled its customers to collectively save over £1 million and 4,000 tonnes of CO2 by optimising energy procurement, implementing simple operational adjustments, and identifying suitable low-carbon technologies.

Jane Lucy, co-founder and CEO of Perse, expressed her enthusiasm for the collaboration with NatWest, stating, “At Perse, we are proud to join forces with NatWest. Through this partnership, we look forward to empowering even more businesses to embrace sustainable practices and achieve their energy efficiency and financial goals.”

In addition, NatWest is pleased to announce a new alliance with Absolar, offering businesses the tools to explore the potential of adopting solar energy. 

Absolar’s cutting-edge technology remotely assesses the solar potential of commercial premises and provides estimates of potential savings through solar power usage. Typically, businesses receive comprehensive reports within 48 hours, allowing them to swiftly evaluate their options and access a directory of certified suppliers in their local area.

Nic Cory, Director at Absolar, also shared his excitement about partnering with NatWest, saying, “We are delighted to partner with NatWest in their commitment to helping businesses access the potential of solar energy. By highlighting the significant cost savings and environmental benefits together, we can accelerate the transition to a greener future and drive financial success for businesses.”

Conclusion

James Holian, Head of Business Banking at NatWest, does understand the pressures created by the cost of living crisis – and NatWest are well aware that for multiple small enterprises, staying afloat is the priority currently rather than going green. 

For example, Gillian Ferguson, owner of Twisted Empire Bakes in Stewarton, has been forced to cease trading. 

“I’ve just closed my business down. The cost of raw ingredients and energy were to blame, as they decimated my margins,” she explains. “I could have kept struggling on, but a combination of lockdowns, soaring inflation, and incompetence in the government made things too much of a struggle over the past few years, and I decided it’s no longer worth it.”

However, Hollan stresses the need for sustainability to go hand-in-hand with cost-saving. “As the UK’s biggest bank for business, we know that many business owners want their businesses to be more sustainable, but find it difficult to know where to start. That’s why we are proud to launch these new partnerships,” he explains, adding, “Through these, we look forward to giving businesses the tools they need, both to save money and to decarbonise their operations.”

See more: 

• UK brands that have gone into administration since COVID
• The UK areas most worried about the cost of living crisis