Yesterday, a group of five UK banks and building societies named nine sustainability innovations they will be piloting across their estates:
- Coltraco Ultrasonics’ handheld airtightness testing device (Portascanner AIRTIGHT),
- Smartcool’s energy management solution – Panoramic Power
- Smartcool’s Energy Saving System (ESS),
· the Quattro Seal draught proofing system from The Energy Savers,
· the zero-emission boiler from Tepeo,
- Thermacote from Future Six – a high-performance insulation coating,
· Tyle’s Solartyle – solar cells using IBC technology.
· Voltalis’ eponymous smart thermostat, and
· Voltsmart’s energy efficient fuse boards.
These technologies were selected through Wates Group’s annual Financial Services Sustainable Technology Competition, run in partnership with the Sustainable Business Consortium, to help decarbonise the institutions’ estates and advance environmental and operational goals across the sector.
The competition has been running since 2021. Previously held in partnership with Lloyds Banking Group alone, the 2025 edition saw it expand to NatWest Group (which hosted the final), Coventry Building Society, Skipton Building Society and Leeds Building Society – reflecting a growing industry-wide commitment to sustainable innovation on the journey to net zero.
The finalists were selected following a rigorous evaluation of over 100 entries and a competitive green ‘Dragon’s Den’-style pitch process. Their winning technologies stood out for their exceptional innovation, potential impact and ability to drive meaningful change.
This year’s entries tackle key environmental challenges, including reducing operational carbon, minimising waste, enhancing biodiversity and more sustainable commuting.
Nine additional technologies were awarded highly commended status, underscoring the high calibre of submissions.
Dr Zainab Dangana, Head of Sustainable Technology Services at Wates Group, commented, “This year’s awards are a testament to the power of collaboration. By uniting sustainability expertise with the ambition of multiple financial institutions, we’re creating a platform that not only accelerates innovation but also ensures that the benefits are shared across the sector. The quality of submissions has been exceptional, and we’re excited to see how these solutions will shape a more sustainable future in the finance sector.”
In addition to being piloted by the participating financial institutions, the winning innovations have the opportunity to join the Wates Innovation Network (WIN) portal – a curated platform that offers access to a marketplace of cutting-edge technologies, materials and solutions.
Daniel Coakley, Sustainability Manager at Lloyds Banking Group added, “We’ve already seen strong results from collaborating with partners who pitched in previous years. But when it comes to sustainability, there’s always room to go further. That’s why we were especially excited to join forces with industry peers for this year’s competition to help encourage wider take-up of these innovations. The solutions presented have been truly impressive, and we’re looking forward to working together on the pilots and seeing them deliver cost and carbon savings for our organisations.”
Haydn Young, Founder and CEO at the Sustainable Business Consortium concluded, “It’s been inspiring to watch the progress of this year’s competition participants. I’m confident that each of them will play a key role in helping the banks and building societies achieve – and in some cases, surpass – their sustainability targets. Their contributions will accelerate impact across the sector, driving meaningful change faster, which is something we can all be proud of.”
