Thursday 14 December 2017

Barclays banks on green finance products

Barclays Corporate Banking has launched a suite of green finance products to help its clients fund more sustainable projects across the world.

They include Green Loans targeting clients who need more than £3 million across the UK, International Green Loans and Green Asset Finance allowing clients to access more flexible ways of financing assets that support green initiatives.

Green Innovation Finance, backed by the European Investment Fund, also aims to provide funding for SME clients and Green Deposits allow Barclays’ largest clients to earmark funds they deposit against its investment in green bonds.

Qualifying environmental projects include those focused on energy efficiency, renewable energy, green transport, sustainable food, agriculture and forestry, waste management and sustainable water.

Barclays believes there is increasing appetite for more financial support for green initiatives that support the transition to a low carbon and sustainable economy.

Karl Nolson, Head of Global Lending Group said: “We’re seeing a step change in how businesses approach sustainable investment. For too long, green projects have been viewed as an added extra but what we’re increasingly hearing from our clients is a shift in mindset, with sustainability becoming more central to their overall investment strategy.

“We share that view at Barclays and know that unless sustainability is at the heart of how companies conduct their operations, they will fall behind.”