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Climate stories: The Royal Yachting Association

Building powerful partnerships: read the latest in our series of climate stories, featuring our customer the Royal Yachting Association

About the customer

The Royal Yachting Association (RYA), established in 1875, is the governing body for all dinghy, motor and sail cruising, all forms of sail racing, rigid inflatable boats (RIBs) and sports boats, windsurfing and hydrofoiling in the UK.

It has the responsibility to help Britain’s brightest sailing and windsurfing talents fulfil their potential, from the early stages of their competitive careers to the pinnacle of winning Olympic medals.

It has more than 100,000 personal members, 1,500 affiliated clubs and classes, and operates more than 2,200 recognised training centres in 58 countries.*

How did NatWest Group help?

NatWest Group, through its asset finance arm, Lombard, reached out to support the RYA with its climate ambitions. The Local Relationship Manager held meetings with key staff to highlight the various avenues where the NatWest Group could assist the business. This began with completion of the Carbon Planner, which following input from the client, gave an evaluation of the business progress and highlighted other areas available to help reduce its carbon footprint.

An area of support that interested the clients was an electric vehicle (EV) assessment which Lombard provide through a platform known as Diode. Diode has been working closely with NatWest Group to develop and pilot a first-class digital journey, creating a one-stop-shop for SMEs to transition to EVs. This includes access to Diode’s EV suitability assessment, instant driver readiness report, dynamic business insights dashboard and links to NatWest Group’s existing collaborations, such as with Octopus Energy.

90 members of staff at the RYA completed Diode’s EV suitability assessment. The data showed that 44 staff who use their own cars are interested in their next car being an EV. It also showed that 10 staff who use company car drivers would also consider their next vehicle being an EV. Relevant staff members and the business received copies of the assessment to allow further discussions, and Lombard has advised that it can support further on this as required.

Another area where the bank has supported the business is in the processing of cheques: the business has historically received and processed 2,000 to 3,000 cheques per year using a security firm to collect them.

Discussions highlighted scanning software which could be used by the client directly. The machine costs approximately £1,000 as one-off spend and enables costs savings by allowing staff to process cheques, rather than continue with the physical collection by a security company. 

 

What’s next for the business?

The RYA has ambitions to build a new Performance Centre to drive innovation both to aid the performance of the British Sailing Team and reducing the need for international travel.

Lombard referenced its Green Energy loans scheme and is in discussion with the RYA on how it could potentially support the funding of ambitious new technology. The RYA is continuing to discuss how NatWest Group might assist in creating a finance package to enable it to build a facility that meets all of its future needs.

*www.rya.org.uk/about-us

Disclaimer:

This article is for media use only and is not a financial promotion.

Carbon Planner

Carbon Planner is available online to all UK businesses and is not limited to NatWest customers. While any UK business can use the tool, businesses will get the most from the NatWest Carbon Plan if they: have an annual turnover of above £2m; can access it on a desktop computer; are interested in taking action to reduce their carbon emission.

NatWest Group Green Asset Finance (Lombard)

NatWest Group Green Asset Finance is available to over 18s which meets the NatWest Group Climate and Sustainable Finance Inclusion Criteria for your business size. Security may be required. Fees (other than arrangement fees) may apply. Available to UK customers for business purposes only. Available for borrowing over £25,000 and less than £10 million. Subject to status, eligibility and approval.  Finance provided by Lombard.

This announcement is published by NatWest Group plc (together with its subsidiaries “NatWest Group”), for information and reference purposes only and is intended to provide non-exhaustive, indicative and general information only, it does not purport to be comprehensive, and it does not provide any form of legal, tax, investment, accounting, financial or other advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information.

For more information on our activity on climate, environment, social and governance matters, please see NatWest Group’s 2022 Climate-related Disclosures Report (PDF 9.7MB) and NatWest Group’s 2022 Environmental, Social and Governance Supplement (PDF 9.6MB)

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