Barry Lewis, Director of Commercial Banking at NatWest in Hereford & Worcester, explains the role SMEs have to play in tackling climate change and ways NatWest is supporting businesses in becoming more sustainable.
Climate change is the single biggest issue impacting humanity today, and whilst we know a great deal of work is underway across Hereford and Worcester, we know there is still more to do. Our recent ‘Springboard to Sustainability’ report found that the UK’s six million SMEs could help achieve 50% of the UK’s net-zero decarbonisation goals. It also found that SMEs could create up to 130,000 new jobs, produce around 30,000 new businesses resulting in an estimated £160 billion opportunity for the UK economy.
Without question this is good news for the UK economy, but at the local level, we are working with businesses to help them with their sustainable goals and ambitions. Our local Relationship teams have undergone extensive training through the universities of Cambridge and Edinburgh on issues relating to climate change so we can ensure we provide customers and the wider business community specialist support on climate issues. And our Accelerators at the University of Warwick and in Birmingham have dedicated spaces for climate-focussed businesses as part of our continued support for new and emerging businesses.
We will also continue to work with local partners such as the Herefordshire and Worcestershire Chamber of Commerce and look at ways we can collaborate to support the local business ecosystem in achieving their climate goals.