Cash call to fuel advice firm’s war on carbon

BARCLAYS-backed green consultancy Save MoneyCut Carbon is set to raise‘ tens of millions’ for growth after rising demand for its services.

The firm, which has seen ‘significant’ investment via Barclays’ Sustainable Impact Capital initiative, expects to appoint corporate finance advisers in coming weeks.

Chief executive Mark Sait said it had delivered on more than 1,000 consultancy projects across the UK, advising businesses such as Manchester Airport and hotels, as well as schools and hospitals on saving energy and water.

The fundraising coincides with the UN Climate Change Conference, known as Cop26, in Glasgow in November.

Sait said two-thirds of the business is generated from projects each contributing £50,000 to £1million in turnover.

The business has been growing by up to 70 per cent annually, although growth slowed during lockdown, when it was impossible to access sectors such as hospitality.

Sait said: ‘We look to educate businesses and staff to change behaviour. We look at quick wins – changing lightbulbs, taps, water flow rates – then bigger things, whether electric vehicles or solar. It depends on your appetite. We show you all the things you can do and what gives the fastest payback.’

It has also started a website for smaller firms, a shop and a club advising households.