Following its successful carbon footprint tracking for consumers last year.
Tracking your carbon emissions is fast becoming a must-have, and NatWest is working with fintech Cogo to enable its millions of SME customers to do just that.
NatWest today launched its own free Carbon Tracker app as a pilot aimed at the manufacturing and transportation sectors.
The app works by linking with a business customer’s NatWest account, and then using Cogo’s smarts to attribute an estimated carbon footprint to transactions.
SMEs can then use this data to keep track of their emissions, compare them month-on-month, and find ways to reduce their footprint.
Last year NatWest launched carbon footprint tracking for its retail customers by working with Cogo, a feature which the bank says has been used by 150,000 retail account holders since November 2021.
“As the UK’s biggest bank for business, we know many SMEs 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,” said Andrew Harrison, NatWest’s head of business banking.
“Opportunities exist across all sectors of the economy, but the Transport, Agriculture, and Industrial sectors provide the most urgent and immediate positive business cases.”
Indeed, following the pilot Natwest says it plans to roll out its Carbon Tracker app to all eligible SME customers.