NatWest customers can now sign up to participate in a pilot scheme with fintech CoGo, which will give them access to a real-time carbon footprint tracker based on their spending habits.

As soon as a customer connects their bank account to the app, CoGo will automatically calculate their real-time carbon footprint based on their transactions, and this will update with every spend, showing them their climate impact from morning coffee to lights out.

CoGo also provides actions for users to lower their carbon footprint from lowering meat intake to nudging users towards switching to renewable energy.

Each month, CoGo provides users with the ability to offset their impact too. NatWest hope that, through the CoGo partnership, it will be easier for customers to make informed choices about how their spending is linked to carbon emissions.

Georgina Bulkeley, personal banking chief operating officer at NatWest, commented: “At NatWest, we know our customers are as passionate about climate change as we are – but it’s really hard to change what you can’t measure. We are pleased to be working with CoGo to ensure that our customers have access to the best tools so that they can make informed decisions about their spending and the impact that has on the environment.

“2020 has been a challenging year for everyone, but for us as a bank it’s important that we are providing support in the short-term as well as investing in tools and education that address longer-term issues and ambitions.”

The bank has unveiled plans to offer a £100 ‘thank you’ payment to customers who participate in the Government’s Green Homes Grant scheme and take out a personal loan with NatWest.

The payment will help towards the cost of installing or upgrading climate-friendly home improvements, such as energy efficient boilers, insulation or installing solar panels.

To get the £100 thank you payment, customers simply need to produce their green home grant voucher. This package of measures has been driven by research that found 70% of NatWest customers are concerned about climate change, but don’t know what steps to take to reduce their climate impact.

Emma Kisby, managing director of CoGo, commented: “I am thrilled to be working with NatWest - a trusted partner who shares our passion for finding a solution to the biggest challenge facing our generation, climate change. At CoGo, our mission is to empower consumers to understand the impact of their everyday spend on people and planet. This exciting new partnership will deliver real-time personalised carbon footprints to NatWest customers and nudge them towards actions and suggested businesses to help drive to a sustainable lifestyle.”