NatWest has joined forces with Microsoft to help its business customers reduce their carbon footprints.
Due to be piloted later this year, the initiative will build on Microsoft’s cloud, data and AI platform alongside NatWest Group’s business customer knowhow and client base.
During the research phase of the project, the bank surveyed 500 business customers of different sizes to learn about their challenges in meeting their climate ambitions.
Eighty-eight per cent of those surveyed said reducing their indirect emissions, such as those in their supply chains, is difficult to get external support for. And 41% said reducing indirect emissions was ‘very challenging’ or ‘incredibly challenging’ for them.
For businesses that haven’t started their transition, the biggest barriers they face are a lack of information and data, and a lack of resource or funding.
Alison Rose, chief executive officer of NatWest, says: “Tackling climate change is one of the biggest challenges of our time. As the leading bank in the UK for businesses, we have a significant responsibility, and the ability, to encourage, enable and to lead the way in the UK to transition to a net zero carbon economy."