7 out of 10 North West SMEs don't know their business carbon emissions

NATWEST research has revealed that 77% of SMEs in the North West are unaware of their business's total carbon emissions, despite good intentions; with more than 2 in every 5 (44%) recognising it is important to lower their emissions in the near future.

These stark statistics follow NatWest's publication of the:- 'Springboard to Sustainability' report, which detailed that, with the right support the UK's 6 million SMEs can contribute to up to 50% of the UK's Net Zero decarbonisation goals by 2030 worth an estimated ₤160 billion in revenue.

To help address this crucial gap between intent and knowledge, the bank has launched the NatWest Carbon Tracker app which provides SMEs with an estimate of their carbon footprint. The app, developed in partnership with carbon tracking expert Cogo, will be piloted with eligible SMEs in the manufacturing and transport sectors to allow those SMEs to trial the app, with no fee being payable for use, before NatWest looks to roll the Carbon Tracker out to eligible SMEs more widely. This will help to address the need outlined by 51% North West SMEs who stated they would find an emissions tracker tool helpful.

On downloading the app and linking it to their business accounts, SMEs will be able to review their transactions and estimated carbon footprint, see their estimated emissions over time, and compare them month on month. The app also suggests ways that SMEs may be able to reduce carbon emissions and learn more about the support available to help them go and grow greener. These suggestions include switching to electric vehicles and moving to renewable energy and other changes that could reduce emissions and could save SMEs money on their energy bills.

The SME pilot follows the successful rollout of the carbon footprint tracking feature to retail customers last year in partnership with carbon tracking expert Cogo to help them understand the environmental impact of their spending and to give tips on how they can cut their carbon footprint. More than 150,000 retail customers have used the carbon tracker since launch in November 2021.

The NatWest Carbon tracker is the latest product innovation introduced by the bank, empowering SMEs to play their part in meeting the critical climate challenge facing the UK. In February, NatWest launched Green Loans and Green Asset Finance propositions for qualifying SMEs, with no arrangement fee, which will allow businesses to invest in sustainable energy, transport, buildings and agriculture.

This follows the partnership launched in 2021 with green energy provider Octopus Energy to help businesses transition to greener transport by offering NatWest customers electric vehicle (EV) chargers at discounted rates and access to Octopus Energy's public charging network.

Andrew Harrison, Head of Business Banking, NatWest Group said:- "As the UK's biggest bank for business, we know many SMEs across the North West are unsure about where to start on their sustainability journey, and many don't have the time or resources needed to understand their environmental impact. However, with the right support, our research shows that by 2030, it will make financial sense for up to 70% of UK businesses to reduce emissions. Opportunities exist across all sectors of the economy, but the Manufacturing, Construction, Transport, Agriculture, and Industrial sectors provide the most urgent and immediate positive business cases. At NatWest, we want to lead the way in helping businesses across the UK to tackle climate change and to grow greener. A free and quick view of their carbon footprint can help local SMEs move in the right direction to cut emissions, gain a competitive edge, grow and future proof their business as the UK works towards making a 50% reduction in emissions by 2030."

Emma Kisby, UK and Europe CEO at Cogo said:- "SMEs are absolutely vital to the UK economy. Making up ˝ of turnover in the private sector, they are a key player in addressing the climate challenge. As a small business ourselves, we know the challenges and opportunities faced when it comes to making meaningful change in this area. It can be daunting and complex. SMEs need quick and easy solutions that will help them understand their carbon emissions, whilst also highlighting the changes that can make a material difference to reducing their emissions. The launch of the SME pilot programme marks an important extension of our already successful partnership with NatWest, with our carbon tracking now available to 8 million of its customers. This shows the power of collective action and the magic that can happen when big players in the financial industry partner with sustainability experts. Greater industry collaboration will help us to deliver the scale and pace of change that is needed for our planet."

To sign up for the pilot, eligible businesses must:-

► Have a NatWest Business current or credit account and be registered for Online Banking or Mobile Banking

► Operate in 1 of the following sectors and sub-sectors:-

  ►Manufacturing (textiles/food and drink/construction/ building materials)

  ► Transport (automotive sales/maintenance and repairs/automotive rental/transport and logistics)

► Have an annual turnover of less than ₤2m.

► Be either a sole trader, partnership or limited company registered and/or with a principal place of business in the UK.

► have an iPhone 6 and above.

► NatWest uses Open Banking to connect your account and analyse your transaction data. Terms and conditions apply.

To apply, SMEs should contact a NatWest Relationship Manager to confirm their eligibility or go to the NatWest Climate Hub at:- NatWest.com/ClimateHub.

The NatWest Climate Hub features tips, insights and tools aiming to help all UK SMEs act now to tackle climate change, by reducing emissions and unlocking green growth opportunities. It brings together resources, products and services that address some of the gaps identified in NatWest's A Springboard to Sustainability report, as well as educating SMEs around the financial benefits of transitioning towards Net Zero. To apply, SMEs should contact a NatWest Relationship Manager to confirm their eligibility or go to:- NatWest.Com.

Is the UK Government moving to slowly to install EV charging points?

BILL Esterson MP accused the Government of moving too slowly in the provision of electric car charging infrastructure. Mr Esterson, MP for Sefton Central, said it would more than 50 years before all drivers in the UK could go electric at current rates of public charger installation. Mr Esterson asked the Transport Secretary Grant Shapps in Parliament how he expects the public to do their bit to achieve net zero without adequate chargers being available.

Mr Esterson said in the House of Commons:- "The UK needs 480,000 EV charging points if we are to transition to electric vehicles. So far there are 28,000 publicly available charging points, with only 1,000 on street charge points outside London. Last year just 7,600 new charge points were installed. At this rate we will have to wait until 2080 for everyone to be able to use an electric car. These figures are from the National Infrastructure Commission. So how does the Secretary of State expect motorists to be able to play their part in the move to net zero if the Government isn't delivering the charging infrastructure?"

The Secretary of State said that the figures were out of date and that in fact 29,500 public chargers had been installed.

Mr Esterson said following the exchange:- "It is far too little and far too slowly. The growth in electric vehicles is being held back due to a lack of faith among the public that they will be able to charge their electric car wherever they go. It is all very well for the Transport Secretary to quote the figures relating to chargers at people's homes, but drivers need to know they will be able to charge their vehicle when they are away from home. And while rapid chargers are being installed, how many of them are working? Take those at the BP garage on Liverpool Road in Formby in my constituency, which have not been turned on yet, despite being installed months ago."

Mr Esterson recently wrote to BP Pulse to ask when the rapid charger at the Liverpool Road site would become available for use.

A representative from BP Pulse chief executive Akira Kirton's office responded:- "The BP retail site in Formby has 2 ultra fast 150kW chargers installed; which is aligned to our strategy of deploying ultra fast charging network across the UK, at pace. However, there is commercial and legal complexity in installing infrastructure of this type at this scale and speed, and unfortunately this complexity has impacted on the installations at Formby. While we have already done the work to get the chargers in the ground, we are working through the process of getting the new point of connection to the chargers energised to allow customers to use them. We are, however, very hopeful we will be able to complete the Formby installation and get the site energised by the middle of this year."

Mr Esterson added:- "It is time for the Government to step up and do more to assist with the availability of chargers such as the ones in Formby which have yet to be switched on. I have written to the Transport Secretary to ask him what he can do to assist in this case."