Despite many SMEs understanding the importance of green initiatives, and being aware of the current climate crisis and the impact they are having, many feel they do not have the skills necessary to make a difference. To ease these concerns, NatWest, the UK bank, has joined forces with Cogo, the carbon management platform, to build a carbon literacy toolkit.
The carbon literacy toolkit will guide SMEs through the carbon disclosure process. Free to access for anyone, the toolkit has been created by NatWest and Cogo to support all SMEs regardless of their level of carbon literacy.
The topics covered within the step-by-step toolkit include:
- Benefits for SMEs that engage with carbon management
- Getting started with carbon emissions and creating an emissions inventory
- Getting started with setting targets and making public commitments
- Creating action plans to reduce your emissions and achieve your target
- Disclosing your ambitions and progress on carbon management
- Evaluation of your carbon management
A new support service
The toolkit is the first of a series of tools that NatWest and Cogo plan to launch to support SMEs.
James Close, head of climate change at NatWest Group, said: “As the UK’s biggest bank for business we want to help SMEs to tackle climate change and unlock the opportunities of a sustainable economy. NatWest research shows that SMEs that harness the net zero opportunity could generate a £175billion plus revenue opportunity by 2030. If given the right support, they could contribute up to half of the UK’s 2030 emissions targets.
“We know that it can be difficult for small businesses to know where to start. This is why we want to help them navigate that complexity. Carbon disclosure is a top priority for many businesses as they look to grow and we want to arm them with the resources necessary to do this accurately. This step-by-step guide will support supply chain SMEs to build a plan of action to measure. It will also tech them to report and reduce their carbon emissions. In turn, they will be able to make the most of the opportunities presented by the transition.”
Removing complexity
Emma Kisby, Cogo CEO, EMEA: “As the backbone of the UK economy, SMEs play a critical role in tackling the climate crisis. It is therefore imperative that we take the stress and complexity out of carbon reporting for SMEs as we know they are already time, resource and often budget poor.
“That is why we’ve joined forces with our partner, NatWest. We want to create an easy to use toolkit for SMEs to follow when disclosing their carbon emissions to larger corporations. We’ve taken our expertise in carbon footprint measurement and reporting and made it into a digestible guide which aims to make the complex simple.”
