Expert View A SPRINGBOARD TO SUSTAINABLE RECOVERY by Susan Haslem Relationship director at NatWest for Lancashire
Coinciding with COP27 in Egypt, NatWest issued its ‘A Springboard to Sustainable Recovery 2022’ report.
The report highlights the key role that SMEs can play in decarbonisation, while shining a light on the opportunities for regional growth in the journey to net-zero.
In the North West alone, meeting net zero targets is predicted to bring a £33bn revenue boost between now and 2030, with key sectors where SMEs are in a position to capitalise including retrofitting homes and buildings and servicing the local renewable electricity infrastructure.
Of course, the report comes in the context of a turbulent macroeconomic environment that
can’t be overlooked, with many SMEs facing unexpected challenges and tighter cash flows. Understandably, against this backdrop longer- term environmental ambitions could be at risk of taking a back seat while more immediate concerns take precedent.
However, despite the turmoil, the business case for decarbonisation is stronger than ever and many of the SMEs I speak to across the region are looking towards renewables not just as a future opportunity but also as a positive solution to offset some of the more immediate financial pressures they may be facing.
And this is sound logic. In fact, the Springboard report highlights that if energy
prices remain elevated, installing on-roof solar panels could pay back 25 per cent faster today than in 2021, while installing a heat pump now would pay back in half the time that it would have taken just a year ago.
For qualifying SMEs looking to make these changes and take steps toward sustainability now, NatWest has launched its Green Loans and Green Asset Finance products.
Looking ahead it shouldn’t be forgotten that SMEs are still pivotal to driving the next decade of decarbonisation in the UK and, despite the current challenges, ideally placed to harness the revenue opportunities identified in the report, which is available to read on our website.
be harnessed for the benefit of communities and people across the region.
Carl Ennis, who chairs Net Zero NW and is chief executive of Siemens UK and Ireland, says: “The North West is already leading the UK’s net zero future, slashing carbon emissions and carving a new path by creating a green industrial economy with a workforce of more than 660,000. However, the availability of the right skills will be a significant risk to reaching our climate goals if we don’t act now.
“The joined-up approach that the Net Zero Skills Charter aims to deliver, will ensure we set the blueprint for how to train and retain low carbon talent in the region, and then export that expertise out to the rest of the UK, Europe and the world.”
A report by NatWest published last year also highlighted a £160bn-plus “revenue opportunity” for UK SMEs thanks to the drive to tackle climate change.
‘A Springboard to Sustainable Recovery’ said that 30,000 new companies could be created to support the UK’s transition to net zero and half the nation’s carbon reduction ambition could be delivered by its SME sector.
Lancashire businesses are responding to the challenges. Climate damage caused by landfill and unmanaged waste was on the agenda at COP27.
And a Preston headquartered recycling firm is looking to reduce that damage with a ground-breaking approach to hard-to-recycle car parts which could mean zero car landfill within four years.
Recycling Lives, the UK’s largest end-of- life vehicles processor, has developed a revolutionary process that uses the hard-to- recycle automotive shredder residue (ASR) to generate power and green hydrogen energy – through cutting edge thermal treatment technologies.
Chief executive Gerry Marshall says: “As the largest end-of-life car processor in the UK, we responsibly recycle upwards of 150,000 cars a year, and ASR has traditionally been a major issue, accounting for up to a quarter of every vehicle’s material.
“Preventing this valuable material from taking up landfill space and contributing to a cleaner, safer environment that benefits our people and our planet has been a key driver for this innovation, and we are thrilled to have played a crucial part in turning a problem into a positive solution.
“‘We’re aiming to have our first operational plant up and running by the end of 2023, and we’ll be generating power across our other main plants during 2024 and 2025, and thereafter, working on providing power back to the grid over the following 12-18 months. We’re looking to achieve zero percent landfill from ASR within four years.”
Search NatWest Climate Build a world that’ll last
130,000 new jobs, 30,000 new businesses, £160bn for the UK economy and a safer planet for everyone; that’s what net zero could bring.
To help get there, Natwest Group are providing an extra £100bn of funding to sustainable projects by the end of 2025. Let’s tackle climate change together.
Search NatWest Climate
LANCASHIREBUSINESSVIEW.CO.UK
35
GREEN ECONOMY
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80
