Barclays Launches Pioneering Green Banking Products
Barclays wants to stimulate corporate adoption of on-site renewables and energy efficiency through the launch of new green corporate banking products.
The bank will offer loans, deposits, asset finance and innovation finance designed specifically to help fund sustainability projects both in the UK and beyond. The product range has been tailored to support projects of all sizes, with ‘Green Loans’ on offer for larger clients who require financing of more than £3 million for projects in the UK.
Green Asset Finance will be available for clients who need more flexibility in their financing of green initiatives, while SMEs will be able to take advantage of an innovation finance product backed by the European Investment Fund.
Barclays Green Loans can only be used to fund eligible green projects, including energy efficiency projects, renewables, green transport and other sustainability initiatives.
“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,” said Karl Nolson, head of Barclays’ global lending group.
“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.”