UK Construction Sector Gains Vital Boost from NatWest Group in Drive for Retrofitting Advancement

24 Aug, 2023: British banking and insurance holding company, NatWest Group and the Supply Chain Sustainability School are teaming up in an unprecedented collaboration, marking NetWest Group as the inaugural partner from the financial sector. Their united goal is to tackle climate change by fostering the necessary skills within the construction field, specifically focusing on retrofitting the existing housing and commercial structures across the UK.

Retrofitting holds significant importance in aiding households throughout the United Kingdom in embracing energy efficiency and contributing to the nation's pursuit of net zero goals. Enabling the widespread implementation of retrofitting for UK structures necessitates the construction sector to acquire fresh expertise and information.

Commenting on the new partnership, NatWest Group’s Head of Climate Change, James Close, said in the company’s press release, “As one of the largest lenders in the UK, we have a key role to play in supporting consumers and businesses in transitioning to more energy efficient homes and buildings that are warmer, cheaper to heat, and generate lower emissions.’’

“Decarbonising properties will require retrofitting existing buildings to increase their energy efficiency, constructing new energy efficient buildings and decarbonisation of electricity and heating supply. We want to work at scale to increase demand. But we need the skills and companies to carry out the work and we also want to make it as easy for our customers to retrofit as possible.’’

He also added, ‘‘Our collaboration with the Supply Chain Sustainability School will help cultivate a more mature retrofit supply chain, share knowledge and build the skills needed to retrofit homes and buildings across the UK.”

With an unwavering commitment to retrofitting advancements, NatWest Group’s strategic investment is poised to not only bolster the construction industry but also contribute significantly to the nation's carbon reduction goals. As this collaboration gains momentum, it stands as a testament to the power of partnerships in driving positive change. By injecting financial support into retrofitting projects, NatWest Group is catalysing a transformation that will redefine the construction sector's landscape while fostering a greener and more prosperous future for the United Kingdom.