The NatWest Group has said that it aims to lend UK manufacturers an additional billion pounds by the end of this decade to help them invest in greener energy generation and generally stimulate the sector, which is responsible for almost a tenth of the UK economy.
The new lending will be deployed through overdrafts, assets finance and loans. Customers will also have the opportunity of joining the Business Energy Aid Toolkit programme of the Warwick Manufacturing Group (WMG). This programme enables manufacturers to make rapid but substantial reductions in energy use by providing access to equipment, experts and data-driven insights.
NatWest Group’s chief executive, Alison Rose DBE, said that her company was proud to be one of the leading banks supporting UK manufacturers and businesses in general. She said with manufacturing being both a major source of carbon emissions and a large part of the economy:
“…it’s important that businesses in this sector are supported to transition to cleaner, more sustainable operations in a positive way, where the benefits outweigh the costs. That’s why we aim to provide an additional £1 billion of lending to the Manufacturing sector, to help businesses in transitioning to a net-zero economy.”
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