SUSTAINABILITY
Practical steps manufacturing sector can take towards energy resilience , reducing energy bills , and sustainability Manufacturing is one of the largest consumers of power in the UK and steep rises in energy prices have put immense strain on margins . So too has the soaring cost of materials . The sector continues to be squeezed from every angle , facing pressure to be more efficient and sustainable in a more costly environment .
“ Many firms are now paying more for their energy than they would have expected a few years ago . This has squeezed margins and put pressure on cash flow ,” says Capper . “ Recent research we conducted across the sector revealed that two-thirds of manufacturers surveyed had been hit by rising energy prices , prompting nearly the same proportion ( 64 %) to invest in greener energy . Nearly all have done so to make cost savings . So it ’ s promising to hear the sector is taking action to mitigate these challenges .”
There isn ’ t a one-size-fits-all answer to how manufacturers reduce their energy bills ; it will depend on the individual business . According to Capper , the crucial first step towards making the best decision is information .
NatWest is committed to supporting its customers at every stage of their lives , so the work it does with SMEs to enable them to become the corporations of the future is key to the longevity of businesses across the manufacturing sector .
“ Providing support via our trade finance , working capital and asset finance solutions are just some of the ways we are able to support fund businesses to achieve their sustainable ambitions ,” says Capper . “ Tomorrow begins today .”
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