How your bank can help you on the path to Net Zero
While there are many carbon reduction actions organisations can take that will immediately cut costs as well as emissions, up-front investment is sometimes needed to reap rewards further down the track. We talked to Oh Yes! Net Zero members Lloyds Bank and NatWest about how banks can support you in achieving your Net Zero goals.
Lloyds Bank
“As well as having our own Net Zero ambitions and plans, we’re committed to helping other organisations reduce their energy usage and carbon emissions,” said Natalie Boswell, regional development director for the North East at Lloyds Bank’s commercial banking operation.
“One of the ways we’re doing this is through our Clean Growth Financing Initiative (CGFI), which helps businesses of all types to invest in reducing their environmental impact by providing discounted lending for assets or projects that improve sustainability.
“That might be to purchase hybrid and electric vehicles, small-scale renewables such as wind turbines or solar panels, or manufacturing equipment that will drive energy efficiencies.”
Your business doesn’t need to bank with Lloyds Bank to access the discounted financing, but if you are a Lloyds customer you can also find out more by getting in touch with your Relationship Manager. To find out more about CGFI, you can contact Chris Teall, Lloyds Bank’s SME Relationship Manager, or visit the CGFI page on the bank’s website.
As well as products and services to support businesses with their Net Zero plans, Lloyds Bank also provides a host of sustainability resources on its website, from practical tips and quick wins to case studies and research reports.
For business customers, a Green Buildings Tool is available to assess the current energy efficiency of buildings and identify potential improvements. For business customers with a turnover between £3m and £25m, there is also a carbon calculator based on the company’s credit card or current account spending.
Natalie said: “As other Oh Yes! Net Zero members have already found, reducing carbon emissions is good for business, not just for the planet.
“For businesses to remain competitive in the future they will need to grow sustainably, and we’re all about helping them do just that.”
NatWest
NatWest also offers a range of financing options for businesses keen to invest in assets that will support their sustainability journey. Natasha Nauth, relationship director at NatWest, said: “Our Green Loans are aimed at small and medium-sized businesses with an annual turnover of less than £25m.
“They provide funding with no arrangement fee for a range of items that could help you reduce your carbon emissions. These include retrofits for buildings to increase energy efficiency, low carbon heating measures, renewable energy solutions and electric vehicles.”
Lots of companies have benefited from our support, including vehicle manufacturing specialist, WN VTech which secured a multi-million-pound deal to support its mission of increasing the number of electric vehicles on roads. UK bed manufacturer Sleepeezee also received funding support to further invest in technology and machinery to save on costs as energy prices increase, as well as build on its strong reputation as a forward-thinking and sustainable brand.
NatWest’s website is home to a range of tools and advice to support your climate goals, including a carbon planner you can use to measure your carbon footprint, identify priorities for action and start building a plan to reduce your emissions.
“More than half of the UK’s carbon reduction ambition could be delivered by UK businesses,” said Natasha.
“We’re setting ambitious targets and doing all we can to reduce our own carbon footprint – and at the same time we want to support other organisations in their own climate journeys.”
Visit the NatWest website to find out more.